MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch October 13
VEGOILS-Market Factors to Watch October 13
13/10/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures on Thursday extended gains for a second session, buoyed by stronger soyoil and technical buying, said traders
* U.S. soybeans edged lower on Friday, though the oilseed was poised to record its biggest
one-week rise in nearly three months after the U.S. Department unexpectedly cut a production forecast.
* Oil prices edged up on Friday as both U.S. crude production and inventories declined, pointing towards a tightening market.
MARKET NEWS
* U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S.inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper.
RELATED
> Malaysia raises Nov crude palm oil export tax to 6.5 pct
> USDA cuts soybean yield view; sparking rally in futures market
> Pace of U.S. corn, soybean harvests casts doubt on USDA crop views
> U.S. weather forecaster pegs La Niña chances at 55-65 pct
> China raises forecast for 2017/18 corn deficit on lower output
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 0109 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 5534 -14.00 5472 5562 268414
CHINA SOYOIL JAN8 6070 +12.00 6008 6074 175930
CBOT SOY OIL DEC7 33.35 -4.80 33.22 33.37 3704
INDIA PALM OIL OCT7 534.70 -4.80 534.50 542.9 2270
INDIA SOYOIL OCT7 655.5 +0.55 655.05 657.5 5730
NYMEX CRUDE NOV7 50.81 +0.21 50.70 50.82 7368
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 on Thursday extended gains for a second session, buoyed by stronger soyoil and technical buying, said traders
* U.S. soybeans edged lower on Friday, though the oilseed was poised to record its biggest
one-week rise in nearly three months after the U.S. Department unexpectedly cut a production forecast.
* Oil prices edged up on Friday as both U.S. crude production and inventories declined, pointing towards a tightening market.
MARKET NEWS
* U.S. Treasury yields dipped and the dollar rose slightly on Thursday as investors awaited U.S.inflation data while Wall Street stock indexes fell as earnings season kicked off with a whimper.
RELATED
> Malaysia raises Nov crude palm oil export tax to 6.5 pct
> USDA cuts soybean yield view; sparking rally in futures market
> Pace of U.S. corn, soybean harvests casts doubt on USDA crop views
> U.S. weather forecaster pegs La Niña chances at 55-65 pct
> China raises forecast for 2017/18 corn deficit on lower output
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 0109 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 5534 -14.00 5472 5562 268414
CHINA SOYOIL JAN8 6070 +12.00 6008 6074 175930
CBOT SOY OIL DEC7 33.35 -4.80 33.22 33.37 3704
INDIA PALM OIL OCT7 534.70 -4.80 534.50 542.9 2270
INDIA SOYOIL OCT7 655.5 +0.55 655.05 657.5 5730
NYMEX CRUDE NOV7 50.81 +0.21 50.70 50.82 7368
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