MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Nov 14 Friday
Vegoils: Market Factors to Watch Nov 14 Friday
14/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Nov 14.
FUNDAMENTALS
* Malaysian palm oil futures extended losses into a second day on Thursday, following competing soy markets, with investors keeping a close watch on crude prices at near four-year lows.
* Chicago Board of Trade wheat rose for a fourth consecutive session on Thursday, reaching a 2-1/2-month high on short-covering and worries about a cold spell in the United States.
* Oil prices slumped more than 3 percent to four-year lows on Thursday, with benchmark Brent crashing below $80 a barrel, after a stockpile surge at the delivery point for U.S. crude frayed nerves of traders already worried about an oil glut.
MARKET NEWS
* U.S. stock prices held firm on Thursday after the Dow and Standard & Poor's 500 reached record intraday highs, while crude fell below $80 a barrel for the first time in four years on further signs of a slowdown in China's economy.
RELATED
> Indian cooking oil imports hit record in 2013/14, may go higher
> Limited GMO crop launch is 'unique' reaction to China -Dow official
> Farm groups, ag tech companies agree on data privacy standards
> Fed banks say U.S. farmland values steady, weakness ahead
> Canada says condominium developer to ship canola oil to China
> U.S. Midwest farmland values steady, weakness seen ahead -Chi Fed
> CEO of Brazil's JBS meat company sees 2014 revenues up 22 pct
> U.S. Plains farmland values mostly steady, loan demand up -KC Fed
> Britain's wheat area to decline 5 percent - HGCA survey
> Canadian farmers seen likely to raise durum wheat plantings
> Mild autumn boosts west European rapeseed crop but area lower
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 0027 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 5348 -46.00 5330 5388 635440
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.10 +1.60 0.00 0.00 0
INDIA PALM OIL NOV4 450.60 +1.60 448.10 453.70 1016
NYMEX CRUDE DEC4 74.14 -0.07 74.12 74.42 1292
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 extended losses into a second day on Thursday, following competing soy markets, with investors keeping a close watch on crude prices at near four-year lows.
* Chicago Board of Trade wheat rose for a fourth consecutive session on Thursday, reaching a 2-1/2-month high on short-covering and worries about a cold spell in the United States.
* Oil prices slumped more than 3 percent to four-year lows on Thursday, with benchmark Brent crashing below $80 a barrel, after a stockpile surge at the delivery point for U.S. crude frayed nerves of traders already worried about an oil glut.
MARKET NEWS
* U.S. stock prices held firm on Thursday after the Dow and Standard & Poor's 500 reached record intraday highs, while crude fell below $80 a barrel for the first time in four years on further signs of a slowdown in China's economy.
RELATED
> Indian cooking oil imports hit record in 2013/14, may go higher
> Limited GMO crop launch is 'unique' reaction to China -Dow official
> Farm groups, ag tech companies agree on data privacy standards
> Fed banks say U.S. farmland values steady, weakness ahead
> Canada says condominium developer to ship canola oil to China
> U.S. Midwest farmland values steady, weakness seen ahead -Chi Fed
> CEO of Brazil's JBS meat company sees 2014 revenues up 22 pct
> U.S. Plains farmland values mostly steady, loan demand up -KC Fed
> Britain's wheat area to decline 5 percent - HGCA survey
> Canadian farmers seen likely to raise durum wheat plantings
> Mild autumn boosts west European rapeseed crop but area lower
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 0027 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 5348 -46.00 5330 5388 635440
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.10 +1.60 0.00 0.00 0
INDIA PALM OIL NOV4 450.60 +1.60 448.10 453.70 1016
NYMEX CRUDE DEC4 74.14 -0.07 74.12 74.42 1292
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