MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch October 9
VEGOILS-Market Factors to Watch October 9
09/10/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures traded higher on Friday ahead of the release of official data for September, charting a fourth straight day of gains and finishing the week stronger after two consecutive weeks of decline.
* U.S. soybeans rose for a fourth consecutive session as concerns about dry weather in South America pushed the oilseed to a two-week high.
* Oil prices edged up on Monday, halting a 2 percent slide from Friday, on expectations that Saudi Arabia would continue to restrain its output in order to support prices, and as the amount of rigs drilling for new oil in the United States dipped.
MARKET NEWS
* Australian shares and U.S. stock futures inched higher on Monday as the flow of economic news remained generally supportive for global growth, while political uncertainty caused some early ructions in currencies.
RELATED
> Brazil soy planting reaches 5.6 pct, lagging last year - Safras
> Trade estimates for USDA October U.S. corn, soy production
> Brazil's 2017/18 soybean output seen at 109.98 mln T
> France's Saipol to slash biodiesel output, blaming Argentine imports
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 0044 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 33.09 +1.70 33.01 33.11 773
INDIA PALM OIL OCT7 538.00 +1.70 535.40 538.3 1124
INDIA SOYOIL OCT7 657.4 -2.90 657.1 661.8 9680
NYMEX CRUDE NOV7 49.46 +0.17 49.24 49.50 9693
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 traded higher on Friday ahead of the release of official data for September, charting a fourth straight day of gains and finishing the week stronger after two consecutive weeks of decline.
* U.S. soybeans rose for a fourth consecutive session as concerns about dry weather in South America pushed the oilseed to a two-week high.
* Oil prices edged up on Monday, halting a 2 percent slide from Friday, on expectations that Saudi Arabia would continue to restrain its output in order to support prices, and as the amount of rigs drilling for new oil in the United States dipped.
MARKET NEWS
* Australian shares and U.S. stock futures inched higher on Monday as the flow of economic news remained generally supportive for global growth, while political uncertainty caused some early ructions in currencies.
RELATED
> Brazil soy planting reaches 5.6 pct, lagging last year - Safras
> Trade estimates for USDA October U.S. corn, soy production
> Brazil's 2017/18 soybean output seen at 109.98 mln T
> France's Saipol to slash biodiesel output, blaming Argentine imports
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 0044 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 33.09 +1.70 33.01 33.11 773
INDIA PALM OIL OCT7 538.00 +1.70 535.40 538.3 1124
INDIA SOYOIL OCT7 657.4 -2.90 657.1 661.8 9680
NYMEX CRUDE NOV7 49.46 +0.17 49.24 49.50 9693
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