MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch October 6
VEGOILS-Market Factors to Watch October 6
06/10/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures climbed to a one-week high in early trade on Thursday before paring gains later on concerns of rising output and weakening exports.
* U.S. soybean futures rose 1.1 percent on Thursday to their highest level in nearly a week, supported by reports of some disappointing yields in key Midwest production areas and technical buying, traders said.
* Oil markets opened cautiously in Asia on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
MARKET NEWS
Asian stocks rose on Friday after optimism over U.S. tax reform plans lifted Wall Street shares to new highs, while the dollar hovered near a seven-week peak following additional indications of solid economic growth.
RELATED
> PREVIEW-Malaysia palm oil stocks seen rising to 19-month high
> Saudi Arabia's SALIC considers Russian grain investment
> Saudi says "flexible" on Russian idea to extend oil cuts to end-2018
> LNG's Asian price rally may become victim of its own success: Russell
> Oil markets cautious as another tropical storm heads for Gulf of Mexico
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Palm, soy and crude oil prices at 0057 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 0 +0.00 0 0 0
CHINA SOYOIL JAN8 0 +0.00 0 0 0
CBOT SOY OIL DEC7 32.99 +0.00 32.96 32.99 478
INDIA PALM OIL OCT7 536.00 -2.60 534.00 541.9 1418
INDIA SOYOIL OCT7 660.2 -0.75 658.75 664.3 9030
NYMEX CRUDE NOV7 50.74 -0.05 50.70 50.79 4258
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 climbed to a one-week high in early trade on Thursday before paring gains later on concerns of rising output and weakening exports.
* U.S. soybean futures rose 1.1 percent on Thursday to their highest level in nearly a week, supported by reports of some disappointing yields in key Midwest production areas and technical buying, traders said.
* Oil markets opened cautiously in Asia on Friday as traders monitored a tropical storm heading for the Gulf of Mexico and as China remained closed for a week-long public holiday.
MARKET NEWS
Asian stocks rose on Friday after optimism over U.S. tax reform plans lifted Wall Street shares to new highs, while the dollar hovered near a seven-week peak following additional indications of solid economic growth.
RELATED
> PREVIEW-Malaysia palm oil stocks seen rising to 19-month high
> Saudi Arabia's SALIC considers Russian grain investment
> Saudi says "flexible" on Russian idea to extend oil cuts to end-2018
> LNG's Asian price rally may become victim of its own success: Russell
> Oil markets cautious as another tropical storm heads for Gulf of Mexico
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Palm, soy and crude oil prices at 0057 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 0 +0.00 0 0 0
CHINA SOYOIL JAN8 0 +0.00 0 0 0
CBOT SOY OIL DEC7 32.99 +0.00 32.96 32.99 478
INDIA PALM OIL OCT7 536.00 -2.60 534.00 541.9 1418
INDIA SOYOIL OCT7 660.2 -0.75 658.75 664.3 9030
NYMEX CRUDE NOV7 50.74 -0.05 50.70 50.79 4258
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