MARKET DEVELOPMENT
VEGOILS/PALM OIL - Market Factors to Watch Nov 13 (Wednesday)
VEGOILS/PALM OIL - Market Factors to Watch Nov 13 (Wednesday)
13/11/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday
FUNDAMENTALS
* Malaysian palm oil futures jumped in late trade on Tuesday on concerns that a super typhoon in the Philippines would tighten supplies of other vegetable oils and shift demand to palm oil-based substitutes, investors said.
* U.S. soybean futures rose 1 percent to a six-week high on Tuesday, lifted by export demand for U.S. soybeans, particularly from China, along with spillover support from palm oil, traders said.
* U.S. oil futures fell more than $2 a barrel on Tuesday, posting a fresh four-and-a-half-month low, amid speculation the U.S. Federal Reserve may ease up on its monetary stimulus program.
MARKET NEWS
* Global equity markets and government debt prices slipped on Tuesday and the dollar rose as investors contemplated prospects for fewer bond purchases by the Federal Reserve, a critical support for asset prices and the economy.
* Oil prices fell on Tuesday, snapping a two-day rally, and copper also ended down as investors pared risk taking on speculation that U.S. Federal Reserve may ease up on its monetary stimulus program.
RELATED NEWS
> Brazil sugar output rises after rains ease in late Oct -Unica
> German rapeseed sowings for 2014 crop down 4 pct on year
> Kazakhstan's grain exports at 2.8 mln T since July 1 -AgMin
> Soy hits six-week high on China demand, strength in palm
> Starbucks to pay $2.76 bln in Kraft grocery rift
> Goldman cuts corn price forecast, sees rise in 2014 US soy area
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Nov. 1-15 palm oil export data on Nov. 15.
Key commodity markets at 2340 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.21 +0.02 0 0
CHINA PALM OLEIN MAY4 0 +0.00 0 0 0
CHINA SOYOIL MAY4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.75 +0.00 0.00 0.00 0
NYMEX CRUDE DEC3 93.11 +0.07 93.00 93.15 457
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
Reuters
FUNDAMENTALS
* Malaysian palm oil futures jumped in late trade on Tuesday on concerns that a super typhoon in the Philippines would tighten supplies of other vegetable oils and shift demand to palm oil-based substitutes, investors said.
* U.S. soybean futures rose 1 percent to a six-week high on Tuesday, lifted by export demand for U.S. soybeans, particularly from China, along with spillover support from palm oil, traders said.
* U.S. oil futures fell more than $2 a barrel on Tuesday, posting a fresh four-and-a-half-month low, amid speculation the U.S. Federal Reserve may ease up on its monetary stimulus program.
MARKET NEWS
* Global equity markets and government debt prices slipped on Tuesday and the dollar rose as investors contemplated prospects for fewer bond purchases by the Federal Reserve, a critical support for asset prices and the economy.
* Oil prices fell on Tuesday, snapping a two-day rally, and copper also ended down as investors pared risk taking on speculation that U.S. Federal Reserve may ease up on its monetary stimulus program.
RELATED NEWS
> Brazil sugar output rises after rains ease in late Oct -Unica
> German rapeseed sowings for 2014 crop down 4 pct on year
> Kazakhstan's grain exports at 2.8 mln T since July 1 -AgMin
> Soy hits six-week high on China demand, strength in palm
> Starbucks to pay $2.76 bln in Kraft grocery rift
> Goldman cuts corn price forecast, sees rise in 2014 US soy area
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Malaysia's Nov. 1-15 palm oil export data on Nov. 15.
Key commodity markets at 2340 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.21 +0.02 0 0
CHINA PALM OLEIN MAY4 0 +0.00 0 0 0
CHINA SOYOIL MAY4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.75 +0.00 0.00 0.00 0
NYMEX CRUDE DEC3 93.11 +0.07 93.00 93.15 457
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
Reuters