MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 26
VEGOILS-Market Factors to Watch September 26
26/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell 1.7 percent to their lowest in more than a month on Monday, tracking weakness in soyoil on the Chicago Board of Trade (CBOT) and as demand from top consumers China and India weakened.
* U.S. soybean futures fell about 1.3 percent on Monday as anecdotal reports of better-than-expected yields from the early harvest in the Midwest began to trickle in, traders said.
* Oil prices soared more than 3 percent on Monday, with Brent hitting its highest in more than two years, after major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdistan region toward its ports.
MARKET NEWS
* Stocks fell on Wall Street and U.S. government bond yields dropped on Monday after North Korea accused the United States of having declared war on the isolated country, while the euro fell after German elections showed support for Chancellor Angela Merkel's conservative party fell to its lowest since 1949.
RELATED
> COLUMN-Spec views of CBOT corn, soy moving in opposite directions
> POLL-Trade estimates of U.S. 2016 soy crop in USDA stocks report
> Summer-like heat ripens U.S. crops, eases fears of harvest delay
> India's food grain output from summer crop seen 3 pct down
> New index to help investors gauge food diversity
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0047 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5594 -32.00 5574 5600 128730
CHINA SOYOIL JAN8 6188 -18.00 6172 6200 99902
CBOT SOY OIL DEC7 34.04 -1.40 34.02 34.06 612
INDIA PALM OIL SEP7 543.50 -1.40 541.20 544.4 337
INDIA SOYOIL OCT7 677.1 -4.50 674.5 678.5 21800
NYMEX CRUDE NOV7 52.11 -0.11 52.06 52.16 5309
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures fell 1.7 percent to their lowest in more than a month on Monday, tracking weakness in soyoil on the Chicago Board of Trade (CBOT) and as demand from top consumers China and India weakened.
* U.S. soybean futures fell about 1.3 percent on Monday as anecdotal reports of better-than-expected yields from the early harvest in the Midwest began to trickle in, traders said.
* Oil prices soared more than 3 percent on Monday, with Brent hitting its highest in more than two years, after major producers said the global market was on its way to rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdistan region toward its ports.
MARKET NEWS
* Stocks fell on Wall Street and U.S. government bond yields dropped on Monday after North Korea accused the United States of having declared war on the isolated country, while the euro fell after German elections showed support for Chancellor Angela Merkel's conservative party fell to its lowest since 1949.
RELATED
> COLUMN-Spec views of CBOT corn, soy moving in opposite directions
> POLL-Trade estimates of U.S. 2016 soy crop in USDA stocks report
> Summer-like heat ripens U.S. crops, eases fears of harvest delay
> India's food grain output from summer crop seen 3 pct down
> New index to help investors gauge food diversity
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0047 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5594 -32.00 5574 5600 128730
CHINA SOYOIL JAN8 6188 -18.00 6172 6200 99902
CBOT SOY OIL DEC7 34.04 -1.40 34.02 34.06 612
INDIA PALM OIL SEP7 543.50 -1.40 541.20 544.4 337
INDIA SOYOIL OCT7 677.1 -4.50 674.5 678.5 21800
NYMEX CRUDE NOV7 52.11 -0.11 52.06 52.16 5309
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel