MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 24
VEGOILS-Market Factors to Watch Oct 24
24/10/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil made its biggest gains in four weeks on Thursday, buoyed by a weakening ringgit, strong soy oil markets, and more trades to clear positions ahead of the end-of-month rollover.
* U.S. soybean futures rallied more than 3 percent to a five-week high on Thursday on robust export demand and tight cash market supplies, with late-session technical buying adding to gains.
* Brent crude oil jumped nearly 3 percent on Thursday, its most in over four months, after an industry source said Saudi Arabia cut output in September following the summer's tumble in prices.
MARKET NEWS
* Global equity markets rose on Thursday, with stocks on Wall Street climbing more than 1 percent as U.S. corporate earnings continued to beat expectations, while government debt prices slid on stronger American and German economic reports.
RELATED
> Indonesian rubber group makes second appeal to limit sales
> Soybeans rally on robust export sales, technical buying
> Asia Q3 cocoa grinding falls 5.9 pct on weak demand
> Ivory Coast cocoa trades at rare discount despite Ebola worry
> Monsanto, soy exporter royalties dispute rages on in Brazil
> Grains traders surprised by USDA report of China soy sales
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 0631 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2102 -34.00 2098 2119 196
MY PALM OIL NOV4 2078 -35.00 2071 2093 4653
MY PALM OIL DEC4 2075 -36.00 2068 2091 13358
CHINA PALM OLEIN JAN5 5086 -138.00 5062 5198 687800
CHINA SOYOIL JAN5 5806 -164.00 5774 5928 646108
CBOT SOY OIL DEC4 32.15 -2.90 32.08 32.58 6361
INDIA PALM OIL SEP4 457.00 -2.90 454.20 457.90 183
INDIA SOYOIL OCT4 590.85 -6.55 590.20 593.00 22705
NYMEX CRUDE OCT4 91.82 -0.59 91.81 92.51 689
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 made its biggest gains in four weeks on Thursday, buoyed by a weakening ringgit, strong soy oil markets, and more trades to clear positions ahead of the end-of-month rollover.
* U.S. soybean futures rallied more than 3 percent to a five-week high on Thursday on robust export demand and tight cash market supplies, with late-session technical buying adding to gains.
* Brent crude oil jumped nearly 3 percent on Thursday, its most in over four months, after an industry source said Saudi Arabia cut output in September following the summer's tumble in prices.
MARKET NEWS
* Global equity markets rose on Thursday, with stocks on Wall Street climbing more than 1 percent as U.S. corporate earnings continued to beat expectations, while government debt prices slid on stronger American and German economic reports.
RELATED
> Indonesian rubber group makes second appeal to limit sales
> Soybeans rally on robust export sales, technical buying
> Asia Q3 cocoa grinding falls 5.9 pct on weak demand
> Ivory Coast cocoa trades at rare discount despite Ebola worry
> Monsanto, soy exporter royalties dispute rages on in Brazil
> Grains traders surprised by USDA report of China soy sales
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 0631 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 2102 -34.00 2098 2119 196
MY PALM OIL NOV4 2078 -35.00 2071 2093 4653
MY PALM OIL DEC4 2075 -36.00 2068 2091 13358
CHINA PALM OLEIN JAN5 5086 -138.00 5062 5198 687800
CHINA SOYOIL JAN5 5806 -164.00 5774 5928 646108
CBOT SOY OIL DEC4 32.15 -2.90 32.08 32.58 6361
INDIA PALM OIL SEP4 457.00 -2.90 454.20 457.90 183
INDIA SOYOIL OCT4 590.85 -6.55 590.20 593.00 22705
NYMEX CRUDE OCT4 91.82 -0.59 91.81 92.51 689
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