MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Sept 29 Monday
Vegoils: Market Factors to Watch Sept 29 Monday
29/09/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Friday as traders took profits after four straight weeks of gains, and on concerns of low demand during the approaching Golden Week holiday in China.
* U.S. corn futures slumped to a five-year low Friday while soybeans notched a fresh four-year low amid ideal weather conditions for record harvests in the Midwestern crop belt while new highs in the dollar made the supplies less competitive in global markets.
* Brent crude futures ended flat on Friday as improving supply and concerns about tepid demand for oil in Europe and China offset concerns about the Middle East conflicts, while U.S. crude rose on supportive economic data from the United States.
MARKET NEWS
* High-profile investor Bill Gross's departure from Pimco shook the bond market on Friday, while world stock markets and the dollar rose following data showing the U.S. economy grew at its fastest pace in more than two years in the second quarter.
RELATED
> Crude palm oil could jump by 10 pct in Jan-March-Mielke
> Palm oil to hit new 5-1/2 year low at 1,900 ringgit-analyst Mistry
> INTERVIEW-Malaysia could allow duty free palm oil exports until year end- Felda Global
> India examining industry demand to raise import duty on edible oils - minister
> Malaysian palm oil prices to rise 8 pct by Feb 2015 - LMC analyst James Fry
> Pig virus shrinks U.S. hog herd, but low-cost feed limits decline
> Brazil moves to refill soy waterway drained by drought
> Dry northern Argentine wheat fields to benefit from rains -govt
> Soy planting picks up speed in Brazil's top growing state
> Paraguay's economy shrinks in Q2 as farm exports lose shine
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September palm oil exports on Sept. 30.
Palm, soy and crude oil prices at 0014 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 5176 -34.00 5148 5188 232612
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.84 -0.90 31.81 32.04 1504
INDIA PALM OIL SEP4 470.00 -0.90 469.30 472.50 335
INDIA SOYOIL OCT4 605.00 -6.50 605.00 614.80 74705
NYMEX CRUDE NOV4 93.01 -0.53 92.92 93.42 2840
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 edged down on Friday as traders took profits after four straight weeks of gains, and on concerns of low demand during the approaching Golden Week holiday in China.
* U.S. corn futures slumped to a five-year low Friday while soybeans notched a fresh four-year low amid ideal weather conditions for record harvests in the Midwestern crop belt while new highs in the dollar made the supplies less competitive in global markets.
* Brent crude futures ended flat on Friday as improving supply and concerns about tepid demand for oil in Europe and China offset concerns about the Middle East conflicts, while U.S. crude rose on supportive economic data from the United States.
MARKET NEWS
* High-profile investor Bill Gross's departure from Pimco shook the bond market on Friday, while world stock markets and the dollar rose following data showing the U.S. economy grew at its fastest pace in more than two years in the second quarter.
RELATED
> Crude palm oil could jump by 10 pct in Jan-March-Mielke
> Palm oil to hit new 5-1/2 year low at 1,900 ringgit-analyst Mistry
> INTERVIEW-Malaysia could allow duty free palm oil exports until year end- Felda Global
> India examining industry demand to raise import duty on edible oils - minister
> Malaysian palm oil prices to rise 8 pct by Feb 2015 - LMC analyst James Fry
> Pig virus shrinks U.S. hog herd, but low-cost feed limits decline
> Brazil moves to refill soy waterway drained by drought
> Dry northern Argentine wheat fields to benefit from rains -govt
> Soy planting picks up speed in Brazil's top growing state
> Paraguay's economy shrinks in Q2 as farm exports lose shine
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's September palm oil exports on Sept. 30.
Palm, soy and crude oil prices at 0014 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 5176 -34.00 5148 5188 232612
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.84 -0.90 31.81 32.04 1504
INDIA PALM OIL SEP4 470.00 -0.90 469.30 472.50 335
INDIA SOYOIL OCT4 605.00 -6.50 605.00 614.80 74705
NYMEX CRUDE NOV4 93.01 -0.53 92.92 93.42 2840
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.