MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Nov 13 Thursday
Vegoils: Market Factors to Watch Nov 13 Thursday
13/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures ended lower on Wednesday, giving up some gains made in the morning session when it had touched a week high, after a bout of technical correction pressured prices of the tropical commodity.
* Chicago Board of Trade soybean prices fell on Wednesday, retreating from multi-month highs on profit-taking, farmer selling and rumors of South American soymeal cargoes being shipped to the United States, traders said.
* Benchmark Brent crude fell below $80 a barrel on Wednesday for the first time since 2010 on technical selling, pressure from a strong dollar and after Saudi Arabia's oil minister refused to say if the kingdom will support calls from some OPEC members to cut crude output.
MARKET NEWS
* U.S. equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of $4.3 billion for currency rigging, while the oil market sagged on concerns about a supply glut.
RELATED
> Golden Agri has worst quarter in 11 yrs after palm oil price slump
> Indonesia's palm oil output seen 11 pct lower in Oct - Reuters survey
> Oil India Sept-qtr profit down about 33 pct
> Dow AgroSciences limits sales of GMO soy, corn on China worries
> U.S. soymeal buyers look overseas due to high prices, rail traffic
> INTERVIEW-India's food ministry recommends raising edible oil import taxes
> Strategie Grains sees smaller EU 2015 wheat crop
> Russia in talks to start supplying grain to China - Interfax
> Growing U.S. ethanol exports may help support corn price
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 0039 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 5358 -62.00 5356 5442 638290
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.25 -2.40 0.00 0.00 0
INDIA PALM OIL NOV4 448.00 -2.40 447.90 454.40 1287
NYMEX CRUDE DEC4 77.03 -0.15 76.86 77.08 636
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 Wednesday, giving up some gains made in the morning session when it had touched a week high, after a bout of technical correction pressured prices of the tropical commodity.
* Chicago Board of Trade soybean prices fell on Wednesday, retreating from multi-month highs on profit-taking, farmer selling and rumors of South American soymeal cargoes being shipped to the United States, traders said.
* Benchmark Brent crude fell below $80 a barrel on Wednesday for the first time since 2010 on technical selling, pressure from a strong dollar and after Saudi Arabia's oil minister refused to say if the kingdom will support calls from some OPEC members to cut crude output.
MARKET NEWS
* U.S. equity prices edged off record highs on Wednesday led by weakness in the financial sector after six global banks were fined a total of $4.3 billion for currency rigging, while the oil market sagged on concerns about a supply glut.
RELATED
> Golden Agri has worst quarter in 11 yrs after palm oil price slump
> Indonesia's palm oil output seen 11 pct lower in Oct - Reuters survey
> Oil India Sept-qtr profit down about 33 pct
> Dow AgroSciences limits sales of GMO soy, corn on China worries
> U.S. soymeal buyers look overseas due to high prices, rail traffic
> INTERVIEW-India's food ministry recommends raising edible oil import taxes
> Strategie Grains sees smaller EU 2015 wheat crop
> Russia in talks to start supplying grain to China - Interfax
> Growing U.S. ethanol exports may help support corn price
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 0039 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 5358 -62.00 5356 5442 638290
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.25 -2.40 0.00 0.00 0
INDIA PALM OIL NOV4 448.00 -2.40 447.90 454.40 1287
NYMEX CRUDE DEC4 77.03 -0.15 76.86 77.08 636
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