MARKET DEVELOPMENT
Vegoils: Market Factors to Watch Nov 24 Monday
Vegoils: Market Factors to Watch Nov 24 Monday
24/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday following two days of declines to notch up a weekly gain as the rainy season was expected to curb yields, although sluggish export demand capped gains.
* U.S. soybeans rallied 1.8 percent on Friday, pushing prices into positive territory for the week as investors covered short positions and top soy importer China unexpectedly cut interest rates.
* Oil prices rose on Friday for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an OPEC output cut.
MARKET NEWS
* Asian share markets followed the dollar higher on Monday as the prospect of further policy stimulus in China and Europe whetted risk appetites while sending the euro skidding.
RELATED
> Critics pounce on U.S. EPA biofuel delay, call for action
> Oct U.S. cattle placements not as slow as expected
> Brazil cuts tax on biodiesel raw materials
> Philippines group buys 85,000 T soymeal from U.S. - trade
> Fed to issue rules notice on banks and commodities in early 2015
> Asia Grains-Mills eye Canadian spring wheat as Australian supply slows
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-25 palm oil exports on Nov 25.
Palm, soy and crude oil prices at 0006 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5346 +50.00 5336 5368 642896
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.79 +2.20 0.00 0.00 0
INDIA PALM OIL NOV4 451.80 +2.20 448.40 453.00 358
NYMEX CRUDE JAN5 76.49 -0.02 76.43 76.85 1242
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 rose on Friday following two days of declines to notch up a weekly gain as the rainy season was expected to curb yields, although sluggish export demand capped gains.
* U.S. soybeans rallied 1.8 percent on Friday, pushing prices into positive territory for the week as investors covered short positions and top soy importer China unexpectedly cut interest rates.
* Oil prices rose on Friday for their first weekly gain in two months with benchmark Brent crude returning to above $80 a barrel after a rally triggered by China's interest rate cut and speculation of an OPEC output cut.
MARKET NEWS
* Asian share markets followed the dollar higher on Monday as the prospect of further policy stimulus in China and Europe whetted risk appetites while sending the euro skidding.
RELATED
> Critics pounce on U.S. EPA biofuel delay, call for action
> Oct U.S. cattle placements not as slow as expected
> Brazil cuts tax on biodiesel raw materials
> Philippines group buys 85,000 T soymeal from U.S. - trade
> Fed to issue rules notice on banks and commodities in early 2015
> Asia Grains-Mills eye Canadian spring wheat as Australian supply slows
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's Nov. 1-25 palm oil exports on Nov 25.
Palm, soy and crude oil prices at 0006 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5346 +50.00 5336 5368 642896
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 32.79 +2.20 0.00 0.00 0
INDIA PALM OIL NOV4 451.80 +2.20 448.40 453.00 358
NYMEX CRUDE JAN5 76.49 -0.02 76.43 76.85 1242
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