MARKET DEVELOPMENT
VEGOILSPALM OIL - Market Factors To Watch Nov 15
VEGOILSPALM OIL - Market Factors To Watch Nov 15
15/11/2013 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Thursday as investors turned cautious about risky bets, but uncertainty about supplies of competing edible oil from the Philippines propped up prices.
* U.S. corn futures sagged on Thursday on technical selling and concerns the U.S. government might soon lower its requirement on the amount of corn-based ethanol blended into fuel for 2014, traders said.
* Brent oil prices rose on Thursday supported by disruptions to Libyan output, while U.S. crude dipped as traders weighed bulging U.S. inventories, but both markets drew support from expectations the Federal Reserve would keep stimulus measures in place.
MARKET NEWS
* Asian share markets should find reassurance in the prospect of extended U.S. monetary stimulus on Friday, while a falling yen had Japanese shares on track for their best week since May.
* The benchmark price of oil rose a second straight day on Thursday on worries about crude supply disruptions in Libya, and gold extended gains as the incoming Federal Reserve chief indicated continued support for the U.S. stimulus.
RELATED NEWS
> Palm oil prices may surge, depending on Indonesian output, biodiesel -Mistry
> Traders see record Chinese 2013/14 soy imports, but below USDA estimate
> INTERVIEW-Indonesia agriculture ministry argues case for GMO foods
> Australia food security not at risk from ADM deal-GrainCorp
> Corn drifts lower as U.S. ethanol plan awaited
> Falling world production may end sugar surplus phase -ISO
> European fears of cocoa deficit drive up Ivory Coast prices
> Belarus to cut the price of 2014 potash exports
> Cotton futures hit January low on slow demand, rising stocks
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 0016 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.195 -0.01 3.198 3.198
CHINA PALM OLEIN MAY4 0 +0.00 0 0 0
CHINA SOYOIL MAY4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.99 +0.02 0.00 0.00 0
NYMEX CRUDE DEC3 94.01 +0.25 93.84 94.04 510
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Thursday as investors turned cautious about risky bets, but uncertainty about supplies of competing edible oil from the Philippines propped up prices.
* U.S. corn futures sagged on Thursday on technical selling and concerns the U.S. government might soon lower its requirement on the amount of corn-based ethanol blended into fuel for 2014, traders said.
* Brent oil prices rose on Thursday supported by disruptions to Libyan output, while U.S. crude dipped as traders weighed bulging U.S. inventories, but both markets drew support from expectations the Federal Reserve would keep stimulus measures in place.
MARKET NEWS
* Asian share markets should find reassurance in the prospect of extended U.S. monetary stimulus on Friday, while a falling yen had Japanese shares on track for their best week since May.
* The benchmark price of oil rose a second straight day on Thursday on worries about crude supply disruptions in Libya, and gold extended gains as the incoming Federal Reserve chief indicated continued support for the U.S. stimulus.
RELATED NEWS
> Palm oil prices may surge, depending on Indonesian output, biodiesel -Mistry
> Traders see record Chinese 2013/14 soy imports, but below USDA estimate
> INTERVIEW-Indonesia agriculture ministry argues case for GMO foods
> Australia food security not at risk from ADM deal-GrainCorp
> Corn drifts lower as U.S. ethanol plan awaited
> Falling world production may end sugar surplus phase -ISO
> European fears of cocoa deficit drive up Ivory Coast prices
> Belarus to cut the price of 2014 potash exports
> Cotton futures hit January low on slow demand, rising stocks
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 0016 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.195 -0.01 3.198 3.198
CHINA PALM OLEIN MAY4 0 +0.00 0 0 0
CHINA SOYOIL MAY4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.99 +0.02 0.00 0.00 0
NYMEX CRUDE DEC3 94.01 +0.25 93.84 94.04 510
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel