MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 21
VEGOILS-Market Factors to Watch Oct 21
21/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Monday, recording falls in six out of eight sessions as losses in comparative soy markets weighed on sentiment, although hopes for weaker output to rein in stockpiles capped losses.
* U.S. corn and soybean futures touched one-week lows on Monday as drier weather in the U.S. Midwest was expected to allow harvests to accelerate after rain delays.
* Brent crude LCOc1 fell on Monday, dropping below $86 a barrel as worries about booming supply and sluggish demand pushed the global oil benchmark back toward last week's four-year low. U.S. crude hovered below $83 a barrel.
MARKET NEWS
* Asian stocks balked at the starting gate on Tuesday, as investors looked past solid gains on Wall Street overnight to Chinese economic growth figures due later in the session.
RELATED
> Indonesia's new president targets food sustainability within 4 yrs
> Malaysia's Oct 1-20 palm exports fall 10.2 pct m/m-ITS
> Syngenta lawsuit against Bunge over GMO corn revived on appeal
> USDA to restart U.S. oilseed crush reports in July, ethanol in February
> EU wheat prices ease as U.S., French maize harvests accelerate
> Russia's wheat prices slightly up amid weaker rouble
> Showers start over Brazil's drought damaged coffee, sugar areas
DATA/EVENTS
> Malaysian markets closed for Deepavali public holiday on Wednesday, Oct. 22.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-25 palm oil exports on Oct. 27.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5146 -14.00 5124 5148 213910
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.75 -5.70 31.62 31.76 1068
INDIA PALM OIL OCT4 438.90 -5.70 438.10 443.00 955
NYMEX CRUDE NOV4 82.75 +0.04 82.75 82.76 64
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 ended lower on Monday, recording falls in six out of eight sessions as losses in comparative soy markets weighed on sentiment, although hopes for weaker output to rein in stockpiles capped losses.
* U.S. corn and soybean futures touched one-week lows on Monday as drier weather in the U.S. Midwest was expected to allow harvests to accelerate after rain delays.
* Brent crude LCOc1 fell on Monday, dropping below $86 a barrel as worries about booming supply and sluggish demand pushed the global oil benchmark back toward last week's four-year low. U.S. crude hovered below $83 a barrel.
MARKET NEWS
* Asian stocks balked at the starting gate on Tuesday, as investors looked past solid gains on Wall Street overnight to Chinese economic growth figures due later in the session.
RELATED
> Indonesia's new president targets food sustainability within 4 yrs
> Malaysia's Oct 1-20 palm exports fall 10.2 pct m/m-ITS
> Syngenta lawsuit against Bunge over GMO corn revived on appeal
> USDA to restart U.S. oilseed crush reports in July, ethanol in February
> EU wheat prices ease as U.S., French maize harvests accelerate
> Russia's wheat prices slightly up amid weaker rouble
> Showers start over Brazil's drought damaged coffee, sugar areas
DATA/EVENTS
> Malaysian markets closed for Deepavali public holiday on Wednesday, Oct. 22.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's October 1-25 palm oil exports on Oct. 27.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5146 -14.00 5124 5148 213910
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 31.75 -5.70 31.62 31.76 1068
INDIA PALM OIL OCT4 438.90 -5.70 438.10 443.00 955
NYMEX CRUDE NOV4 82.75 +0.04 82.75 82.76 64
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