MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 28
VEGOILS-Market Factors to Watch September 28
28/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures erased earlier gains to end the trading day slightly lower on Wednesday evening, tracking overnight losses in soyoil on the Chicago Board of Trade.
* Chicago wheat futures set a one-month high Wednesday on technical buying and worries about dry conditions in the Midwest that helped the market rally after a weak start, traders said.
* Oil prices fell on Thursday, with U.S. crude giving up some of the previous session's gains that were driven by a surprise fall in inventories, while Brent moved further away from recent 26-month highs.
MARKET NEWS
* The dollar on Wednesday climbed to a one-month high against a basket of currencies, while financial stocks and Treasury yields rose after strong economic data helped boost expectations for a U.S. Federal Reserve interest rate hike in December.
RELATED
> Indonesia to keep palm oil export tax at zero for Oct
> EU producers confirm subsidy challenge on Argentine biodiesel
> Argentine 2017/18 soy crop seen 54 mln tonnes vs 57.5 mln 2016/17
> Drowning in grain: How Big Ag sowed seeds of a profit-slashing glut
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 0106 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 5500 -140.00 5450 5642 508952
CHINA SOYOIL JAN8 6074 -100.00 6026 6164 283518
CBOT SOY OIL DEC7 33.11 -0.60 33.07 33.26 2567
INDIA PALM OIL SEP7 546.90 -0.60 546.70 549.5 1127
INDIA SOYOIL OCT7 672.3 -4.85 671.4 676 23420
NYMEX CRUDE NOV7 52.09 -0.05 52.01 52.13 4676
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 erased earlier gains to end the trading day slightly lower on Wednesday evening, tracking overnight losses in soyoil on the Chicago Board of Trade.
* Chicago wheat futures set a one-month high Wednesday on technical buying and worries about dry conditions in the Midwest that helped the market rally after a weak start, traders said.
* Oil prices fell on Thursday, with U.S. crude giving up some of the previous session's gains that were driven by a surprise fall in inventories, while Brent moved further away from recent 26-month highs.
MARKET NEWS
* The dollar on Wednesday climbed to a one-month high against a basket of currencies, while financial stocks and Treasury yields rose after strong economic data helped boost expectations for a U.S. Federal Reserve interest rate hike in December.
RELATED
> Indonesia to keep palm oil export tax at zero for Oct
> EU producers confirm subsidy challenge on Argentine biodiesel
> Argentine 2017/18 soy crop seen 54 mln tonnes vs 57.5 mln 2016/17
> Drowning in grain: How Big Ag sowed seeds of a profit-slashing glut
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 0106 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 5500 -140.00 5450 5642 508952
CHINA SOYOIL JAN8 6074 -100.00 6026 6164 283518
CBOT SOY OIL DEC7 33.11 -0.60 33.07 33.26 2567
INDIA PALM OIL SEP7 546.90 -0.60 546.70 549.5 1127
INDIA SOYOIL OCT7 672.3 -4.85 671.4 676 23420
NYMEX CRUDE NOV7 52.09 -0.05 52.01 52.13 4676
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