MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch October 11
VEGOILS-Market Factors to Watch October 11
11/10/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined sharply in late trade on Tuesday after five straight sessions of gains, tracking weakness in related edible oils on China's Dalian Commodity Exchange and also on data from the Malaysian Palm Oil Board (MPOB).
* U.S. corn and soybean futures closed fractionally lower Tuesday on technical selling, bucking strength in other commodity markets, including crude oil.
* Oil prices were stable on Wednesday, with U.S. crude holding above $50 per barrel after rising 2 percent the previous day on signs that markets are gradually tightening after years of oversupply.
MARKET NEWS
* Stocks around the world rose on Tuesday as Wall Street eked out record highs ahead of earnings season, while U.S. Treasury prices pared gains after Catalonia's leader allowed for talks with Madrid even as he proclaimed independence from Spain.
RELATED
> Malaysia palm oil stocks hit 2 mln T in Sept -MPOB
> Indonesia palm oil output, exports likely climbed in Aug - Reuters survey
> Brazil's 2017/18 grain output may drop due to weather -Conab
> ADM expanding output of GMO-free soymeal in Germany
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-15 palm oil export data on Oct 15.
> Cargo surveyor SGS releases Malaysia's Oct 1-15 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0052 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 5524 -30.00 5504 5530 109014
CHINA SOYOIL JAN8 6052 -36.00 6050 6070 101408
CBOT SOY OIL DEC7 33.14 -3.60 33.11 33.15 208
INDIA PALM OIL OCT7 537.60 -3.60 535.70 543.7 1322
INDIA SOYOIL OCT7 656.8 -3.05 655.5 663 10400
NYMEX CRUDE NOV7 50.98 +0.06 50.86 50.98 4268
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 declined sharply in late trade on Tuesday after five straight sessions of gains, tracking weakness in related edible oils on China's Dalian Commodity Exchange and also on data from the Malaysian Palm Oil Board (MPOB).
* U.S. corn and soybean futures closed fractionally lower Tuesday on technical selling, bucking strength in other commodity markets, including crude oil.
* Oil prices were stable on Wednesday, with U.S. crude holding above $50 per barrel after rising 2 percent the previous day on signs that markets are gradually tightening after years of oversupply.
MARKET NEWS
* Stocks around the world rose on Tuesday as Wall Street eked out record highs ahead of earnings season, while U.S. Treasury prices pared gains after Catalonia's leader allowed for talks with Madrid even as he proclaimed independence from Spain.
RELATED
> Malaysia palm oil stocks hit 2 mln T in Sept -MPOB
> Indonesia palm oil output, exports likely climbed in Aug - Reuters survey
> Brazil's 2017/18 grain output may drop due to weather -Conab
> ADM expanding output of GMO-free soymeal in Germany
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-15 palm oil export data on Oct 15.
> Cargo surveyor SGS releases Malaysia's Oct 1-15 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0052 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 5524 -30.00 5504 5530 109014
CHINA SOYOIL JAN8 6052 -36.00 6050 6070 101408
CBOT SOY OIL DEC7 33.14 -3.60 33.11 33.15 208
INDIA PALM OIL OCT7 537.60 -3.60 535.70 543.7 1322
INDIA SOYOIL OCT7 656.8 -3.05 655.5 663 10400
NYMEX CRUDE NOV7 50.98 +0.06 50.86 50.98 4268
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