MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Nov 11 Tuesday
Vegoils: Market Factors to Watch Nov 11 Tuesday
11/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures snapped a four-day losing streak on Monday as export demand picked up, with prices further lifted as investors covered short positions ahead of a U.S. government report on its grains acreage.
* Chicago Board of Trade soybean futures fell 1 percent on Monday after the U.S. Department of Agriculture raised its estimate of the record harvest in a monthly report and left its view of ending stocks unchanged, traders said.
* U.S. crude fell more than $1 on Monday, edging below $78 a barrel, and Brent crude also dropped with both reversing early gains as U.S. dollar strength outweighed worries about conflict in Libya and Ukraine.
MARKET NEWS
* World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China's $3.9 trillion stock market and more gains in U.S. equities.
RELATED
> Malaysia end-Oct palm stocks rise to 20-mth high; crude, soy markets in focus
> Malaysia's Nov 1-10 palm oil exports fell 0.2 pct -SGS
> Malaysia's Nov 1-10 palm exports rise 1.3 pct m/m-ITS
> Winter storm hits U.S. Plains, upper Midwest; cold to follow
> USDA trims bin-busting U.S. corn crop, raises soybeans again
> Rains expected to keep delaying Argentine soy, corn planting
> Showers reach Brazil coffee, sugar belt; more needed - forecasters
> France lifts maize crop estimate to record high
> U.S. hopes for GMO crop cultivation in China still alive, barely
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-15 palm oil exports on Nov. 17.
Palm, soy and crude oil prices at 0036 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 MAY5 5374 +54.00 5370 5426 445306
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.40 -0.50 0.00 0.00 0
INDIA PALM OIL NOV4 448.50 -0.50 445.80 451.50 926
NYMEX CRUDE DEC4 77.22 -0.18 77.15 77.26 651
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 snapped a four-day losing streak on Monday as export demand picked up, with prices further lifted as investors covered short positions ahead of a U.S. government report on its grains acreage.
* Chicago Board of Trade soybean futures fell 1 percent on Monday after the U.S. Department of Agriculture raised its estimate of the record harvest in a monthly report and left its view of ending stocks unchanged, traders said.
* U.S. crude fell more than $1 on Monday, edging below $78 a barrel, and Brent crude also dropped with both reversing early gains as U.S. dollar strength outweighed worries about conflict in Libya and Ukraine.
MARKET NEWS
* World equity markets hit their highest level in more than a month on Monday, lifted by a deal to give global investors easier access to China's $3.9 trillion stock market and more gains in U.S. equities.
RELATED
> Malaysia end-Oct palm stocks rise to 20-mth high; crude, soy markets in focus
> Malaysia's Nov 1-10 palm oil exports fell 0.2 pct -SGS
> Malaysia's Nov 1-10 palm exports rise 1.3 pct m/m-ITS
> Winter storm hits U.S. Plains, upper Midwest; cold to follow
> USDA trims bin-busting U.S. corn crop, raises soybeans again
> Rains expected to keep delaying Argentine soy, corn planting
> Showers reach Brazil coffee, sugar belt; more needed - forecasters
> France lifts maize crop estimate to record high
> U.S. hopes for GMO crop cultivation in China still alive, barely
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-15 palm oil exports on Nov. 17.
Palm, soy and crude oil prices at 0036 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 MAY5 5374 +54.00 5370 5426 445306
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.40 -0.50 0.00 0.00 0
INDIA PALM OIL NOV4 448.50 -0.50 445.80 451.50 926
NYMEX CRUDE DEC4 77.22 -0.18 77.15 77.26 651
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