MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 26
VEGOILS-Market Factors to Watch Nov 26
26/11/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday, pulling away from a near one-month low as jitters about a projected increase in crude palm oil production in November faded in the second half of the session.
* U.S. soybean futures reached their highest in more than a week on Tuesday, buoyed by sluggish farmer sales and strong export demand for soymeal, traders said.
* Oil tumbled 2 percent to near four-year lows on Tuesday in another volatile session as a meeting of Saudi Arabia and three other nations ahead of an OPEC summit ended with no deal to curb crude output.
MARKET NEWS
* Wall Street stocks closed mixed on Tuesday with early gains pared after the lowest U.S. consumer confidence data since June took the wind out of a rally spurred by upwardly revised U.S. economic growth, dragging down the U.S. dollar in the process.
RELATED
> In wake of China rejections, GMO seed makers limit US launches
> South Korea's MFG buys 53,000 T soymeal from South America
> Malaysia's Nov 1-25 palm oil exports fall 2.9 pct -ITS
> Malaysia's Nov 1-25 palm oil exports fell 3.3 pct -SGS
> Vote tally too close, recount ordered on Oregon GMO labeling
> Brazil soy moratorium extended to protect Amazon forest
> Brazil farmers turn to grain storage bags amid record corn stocks
> Brazil's sugar output slows as early end to crush nears -Unica
> COLUMN-Speculators set to pare soy market exposure: Maguire
> Russian wheat prices down slightly on stronger rouble
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's November palm oil exports on Dec. 1.
Palm, soy and crude oil prices at 0023 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 5338 +30.00 5330 5350 328268
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 33.60 -4.30 0.00 0.00 0
INDIA PALM OIL NOV4 442.60 -4.30 442.00 445.50 246
NYMEX CRUDE JAN5 73.81 -0.28 73.74 73.92 1038
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 Tuesday, pulling away from a near one-month low as jitters about a projected increase in crude palm oil production in November faded in the second half of the session.
* U.S. soybean futures reached their highest in more than a week on Tuesday, buoyed by sluggish farmer sales and strong export demand for soymeal, traders said.
* Oil tumbled 2 percent to near four-year lows on Tuesday in another volatile session as a meeting of Saudi Arabia and three other nations ahead of an OPEC summit ended with no deal to curb crude output.
MARKET NEWS
* Wall Street stocks closed mixed on Tuesday with early gains pared after the lowest U.S. consumer confidence data since June took the wind out of a rally spurred by upwardly revised U.S. economic growth, dragging down the U.S. dollar in the process.
RELATED
> In wake of China rejections, GMO seed makers limit US launches
> South Korea's MFG buys 53,000 T soymeal from South America
> Malaysia's Nov 1-25 palm oil exports fall 2.9 pct -ITS
> Malaysia's Nov 1-25 palm oil exports fell 3.3 pct -SGS
> Vote tally too close, recount ordered on Oregon GMO labeling
> Brazil soy moratorium extended to protect Amazon forest
> Brazil farmers turn to grain storage bags amid record corn stocks
> Brazil's sugar output slows as early end to crush nears -Unica
> COLUMN-Speculators set to pare soy market exposure: Maguire
> Russian wheat prices down slightly on stronger rouble
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data on Malaysia's November palm oil exports on Dec. 1.
Palm, soy and crude oil prices at 0023 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 5338 +30.00 5330 5350 328268
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 33.60 -4.30 0.00 0.00 0
INDIA PALM OIL NOV4 442.60 -4.30 442.00 445.50 246
NYMEX CRUDE JAN5 73.81 -0.28 73.74 73.92 1038
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