MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 23
VEGOILS-Market Factors to Watch Oct 23
23/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures closed higher on Tuesday, recouping some of last session's losses with expectations of lower production of the tropical product and higher soybean prices underpinning the market.
* Corn and soybeans fell on Wednesday as investors booked profits from recent gains, and with huge U.S. crops slowly coming off fields. Chicago wheat rose on technical buying.
* Oil prices fell sharply on Wednesday, with U.S. crude approaching $80 a barrel after data showed a second big jump in weekly U.S. crude stockpiles.
MARKET NEWS
* Global equity markets fell on Wednesday, reversing earlier gains driven by solid corporate earnings and mild U.S. inflation data that may let the Federal Reserve keep interest rates lower for longer, as U.S. stocks retreated after some big corporate names sold off.
RELATED
> Corn, soybeans slip as investors book profits
> COLUMN-Southern soybean growers steal a march on the Midwest
> Brazilian discounting eats into Thai sugar sales to China
> Argentina to agree export of more 2013-14 wheat-sources
> India kicks off new-crop soymeal exports at $430-$475 per tonne
DATA/EVENTS
> 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 0234 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2119 +24.00 2098 2130 1440
MY PALM OIL NOV4 2099 +17.00 2091 2124 29782
MY PALM OIL DEC4 2115 +18.00 2104 2138 20054
CHINA PALM OLEIN JAN5 5282 +70.00 5188 5298 558716
CHINA SOYOIL JAN5 6128 +116.00 6080 6150 422296
CBOT SOY OIL DEC4 33.69 +10.70 33.48 33.77 4276
INDIA PALM OIL SEP4 459.60 +10.70 448.20 459.70 1507
INDIA SOYOIL SEP4 635.50 +13.85 622.80 635.50 10345
NYMEX CRUDE OCT4 92.80 -0.12 92.62 92.89 3059
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 closed higher on Tuesday, recouping some of last session's losses with expectations of lower production of the tropical product and higher soybean prices underpinning the market.
* Corn and soybeans fell on Wednesday as investors booked profits from recent gains, and with huge U.S. crops slowly coming off fields. Chicago wheat rose on technical buying.
* Oil prices fell sharply on Wednesday, with U.S. crude approaching $80 a barrel after data showed a second big jump in weekly U.S. crude stockpiles.
MARKET NEWS
* Global equity markets fell on Wednesday, reversing earlier gains driven by solid corporate earnings and mild U.S. inflation data that may let the Federal Reserve keep interest rates lower for longer, as U.S. stocks retreated after some big corporate names sold off.
RELATED
> Corn, soybeans slip as investors book profits
> COLUMN-Southern soybean growers steal a march on the Midwest
> Brazilian discounting eats into Thai sugar sales to China
> Argentina to agree export of more 2013-14 wheat-sources
> India kicks off new-crop soymeal exports at $430-$475 per tonne
DATA/EVENTS
> 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 0234 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2119 +24.00 2098 2130 1440
MY PALM OIL NOV4 2099 +17.00 2091 2124 29782
MY PALM OIL DEC4 2115 +18.00 2104 2138 20054
CHINA PALM OLEIN JAN5 5282 +70.00 5188 5298 558716
CHINA SOYOIL JAN5 6128 +116.00 6080 6150 422296
CBOT SOY OIL DEC4 33.69 +10.70 33.48 33.77 4276
INDIA PALM OIL SEP4 459.60 +10.70 448.20 459.70 1507
INDIA SOYOIL SEP4 635.50 +13.85 622.80 635.50 10345
NYMEX CRUDE OCT4 92.80 -0.12 92.62 92.89 3059
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