MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Oct 10 Friday
Vegoils: Market Factors to Watch Oct 10 Friday
10/10/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil fell on Thursday as the ringgit rallied and following recent declines in competing edible oil and crude prices, traders said, although recent trade and production data was seen providing support.
* U.S. wheat futures fell 2.9 percent from four-week highs on Thursday, with investors focusing on poor demand and plentiful global stocks ahead of a key government report, traders said.
* Brent broke below $90 a barrel on Thursday for the first time since the summer of 2012, joining a rout in U.S. crude and gasoline prices as sinking stock prices, Europe's worsening outlook and surging oil inventories hammered energy markets.
MARKET NEWS
* Wall Street stocks slumped 2 percent on Thursday as anxieties about global economic growth smothered a short-lived rally in equity markets around the world that was sparked by speculation the Federal Reserve would not rush interest rate rises.
RELATED
> Pakistan bought 20,000 to 25,000 T Australian canola- trade
> World food prices dip to 4-year low in September - FAO
> Malaysia's Sime Darby offers $1.74 bln to buy New Britain Palm oil
> Brazil's Conab forecasts record soy crop below market view
> U.S. weather forecaster says El Niño favored to begin in 1-2 mths
> Argentina soy planting seen up a bit from record previous season
> U.S. biofuel mandate cuts would raise carbon pollution -lawmakers
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-10 palm oil exports on Oct. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-September palm oil stocks, exports and production on Oct. 10.
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 5238 -2.00 5224 5264 373356
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.00 -0.01 32.99 33.06 296
NYMEX CRUDE NOV4 84.65 -1.12 84.36 85.00 5017
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
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil fell on Thursday as the ringgit rallied and following recent declines in competing edible oil and crude prices, traders said, although recent trade and production data was seen providing support.
* U.S. wheat futures fell 2.9 percent from four-week highs on Thursday, with investors focusing on poor demand and plentiful global stocks ahead of a key government report, traders said.
* Brent broke below $90 a barrel on Thursday for the first time since the summer of 2012, joining a rout in U.S. crude and gasoline prices as sinking stock prices, Europe's worsening outlook and surging oil inventories hammered energy markets.
MARKET NEWS
* Wall Street stocks slumped 2 percent on Thursday as anxieties about global economic growth smothered a short-lived rally in equity markets around the world that was sparked by speculation the Federal Reserve would not rush interest rate rises.
RELATED
> Pakistan bought 20,000 to 25,000 T Australian canola- trade
> World food prices dip to 4-year low in September - FAO
> Malaysia's Sime Darby offers $1.74 bln to buy New Britain Palm oil
> Brazil's Conab forecasts record soy crop below market view
> U.S. weather forecaster says El Niño favored to begin in 1-2 mths
> Argentina soy planting seen up a bit from record previous season
> U.S. biofuel mandate cuts would raise carbon pollution -lawmakers
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-10 palm oil exports on Oct. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-September palm oil stocks, exports and production on Oct. 10.
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 5238 -2.00 5224 5264 373356
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 33.00 -0.01 32.99 33.06 296
NYMEX CRUDE NOV4 84.65 -1.12 84.36 85.00 5017
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
Crude in U.S. dollars per barrel