MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Sept 24 Wednesday
Vegoils: Market Factors to Watch Sept 24 Wednesday
24/09/2014 (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 bounced back on Tuesday after hitting a more than one-week low in the previous session, as a recovery in overseas soy markets and a weaker ringgit lifted the tropical oil.
* U.S. corn and soybean futures fell to four-year lows on Tuesday as mild and mostly dry weather across the U.S. Midwest is expected to boost the harvest of record crops.
* Brent crude oil inched lower on Tuesday as ample global supplies outweighed tensions in the Middle East, while U.S. oil bounced higher after four sessions of losses.
MARKET NEWS
* More downbeat data from Europe pushed global equity markets to a third day of losses on Tuesday, while U.S. air strikes in Syria set a cautionary tone and lifted prices of safe-haven bonds.
RELATED
> German mill C. Thywissen says output disrupted after fire
> India's monsoon starts withdrawing from northwest region
> Argentina sees 2014/15 soy planting at about 20 mln hectares
> Corn, soybeans sink to four-year lows as harvest advances
> Russia's Uralkali sees flat H1 potash supply to China
> Vietnam '14/15 coffee output to fall to 25 mln bags-Vicofa
> Yara, CF in talks to create $27.5 bln global fertiliser producer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's palm oil exports between Sept. 1-25 on Sept. 25.
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5142 +58.00 5124 5152 247186
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.36 +6.70 32.33 32.39 532
INDIA PALM OIL SEP4 465.00 +6.70 460.80 465.90 776
INDIA SOYOIL OCT4 602.90 +10.70 594.70 603.90 68085
NYMEX CRUDE NOV4 91.58 +0.02 91.52 91.72 1649
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 bounced back on Tuesday after hitting a more than one-week low in the previous session, as a recovery in overseas soy markets and a weaker ringgit lifted the tropical oil.
* U.S. corn and soybean futures fell to four-year lows on Tuesday as mild and mostly dry weather across the U.S. Midwest is expected to boost the harvest of record crops.
* Brent crude oil inched lower on Tuesday as ample global supplies outweighed tensions in the Middle East, while U.S. oil bounced higher after four sessions of losses.
MARKET NEWS
* More downbeat data from Europe pushed global equity markets to a third day of losses on Tuesday, while U.S. air strikes in Syria set a cautionary tone and lifted prices of safe-haven bonds.
RELATED
> German mill C. Thywissen says output disrupted after fire
> India's monsoon starts withdrawing from northwest region
> Argentina sees 2014/15 soy planting at about 20 mln hectares
> Corn, soybeans sink to four-year lows as harvest advances
> Russia's Uralkali sees flat H1 potash supply to China
> Vietnam '14/15 coffee output to fall to 25 mln bags-Vicofa
> Yara, CF in talks to create $27.5 bln global fertiliser producer
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's palm oil exports between Sept. 1-25 on Sept. 25.
Palm, soy and crude oil prices at 0019 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5142 +58.00 5124 5152 247186
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.36 +6.70 32.33 32.39 532
INDIA PALM OIL SEP4 465.00 +6.70 460.80 465.90 776
INDIA SOYOIL OCT4 602.90 +10.70 594.70 603.90 68085
NYMEX CRUDE NOV4 91.58 +0.02 91.52 91.72 1649
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