VEGOILS-Market Factors to Watch Nov 4
04/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose for a fifth straight day on Monday and climbed to their highest in nearly four months, as the ringgit slid to a nine-month low, making the tropical commodity cheaper for foreign investors and refiners.
* U.S. soymeal futures dropped 4.2 percent on Monday after a sharp rally last week, pulling soybeans lower, as more supplies became available on the cash market, traders said.
* Oil tumbled by as much as $2 a barrel in the final minutes of regular trade on Monday, hitting new lows in New York as Saudi Arabia deepened price cuts for U.S. customers even though it hiked prices for the rest of the world.
MARKET NEWS
* The dollar reached multi-year highs against both the yen and euro on Monday, adding to gains built on the Bank of Japan's surprise stimulus announcement from last week, but equity markets dipped after weak data from China and Europe.
RELATED
> Indonesia's 2015 palm output to rise 7 pct; exports to drop on biodiesel demand
> Strategie Grains sees lower rapeseed area in top EU growers
> U.S. soymeal drops 4.2 percent, leads soybeans lower
> Weekly U.S. soybean export inspections surge to all-time high
> Rains to soak Brazil coffee, cane and soy areas next two weeks
> ICE New York cocoa falls to 5-1/2 month low on strong supply
> India's 2014/15 sugar exports seen at 1.0-1.5 mln T-Sucden India
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance released data on Malaysia's Nov. 1-10 palm oil exports on Nov. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-October palm oil stocks, exports and production on Nov. 10.
Palm, soy and crude oil prices at 0230 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 2288 +1.00 2287 2289 6
MY PALM OIL JAN5 2281 +1.00 2280 2283 90
CHINA PALM OLEIN JAN5 5358 +8.00 5324 5372 430598
CHINA SOYOIL JAN5 5962 -20.00 5942 5980 132768
CBOT SOY OIL DEC4 34.17 +2.30 34.11 34.31 2318
INDIA PALM OIL OCT4 455.00 +2.30 451.70 456.90 451
INDIA SOYOIL NOV4 598.30 -8.65 598.30 610.00 78760
NYMEX CRUDE DEC4 80.98 -0.14 80.85 81.05 1550
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