MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 2
VEGOILS-Market Factors to Watch Oct 2
02/10/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures gained 1.56 percent on Thursday, rising for seven out of eight sessions with prices underpinned by expectations of lower production in October and forecasts of higher purchases by top consumer India.
* Chicago wheat rose more than 1 percent on Thursday, extending a rally triggered by Wednesday's U.S. Department of Agriculture data that put the 2015 U.S. crop below market estimates.
* Oil prices fell more than 1 percent on Thursday as the government's storm monitor altered forecasts for the path of the latest U.S. hurricane, snuffing out an early rally that was prompted by fears of storm damage to U.S. East Coast oil installations.
MARKET NEWS
* Global equities rose modestly on Thursday in choppy trading and as investors continued to examine the depths of China's slowdown and search for clarity on the timing of an interest rate hike from the U.S. Federal Reserve.
RELATED
> Wilmar scoops up 1.2 mln tonnes raw sugar in Oct expiry, prices
> ConAgra to cut 1,500 jobs, shift base to Chicago from Omaha
> Lack of rain slows planting in Brazil's top soy state - growers
> Welsh government reports "mad cow" case, says no risk to health
> Bulgaria opts out of growing genetically modified crops
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's May 1-10 palm oil export data on October 10.
> Cargo surveyor Societe Generale de Surveillance unveils August 1-10 palm oil exports in Malaysia on October 10.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4480 +38.00 4454 4496 395834
CHINA SOYOIL JAN6 5406 +18.00 5384 5420 166578
CBOT SOY OIL DEC5 27.76 +3.70 27.67 27.78 724
INDIA PALM OIL SEP5 425.90 +3.70 421.60 426.40 569
INDIA SOYOIL OCT5 605.75 +2.65 601.10 607.30 50405
NYMEX CRUDE NOV5 44.74 -0.49 44.68 44.94 2150
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 gained 1.56 percent on Thursday, rising for seven out of eight sessions with prices underpinned by expectations of lower production in October and forecasts of higher purchases by top consumer India.
* Chicago wheat rose more than 1 percent on Thursday, extending a rally triggered by Wednesday's U.S. Department of Agriculture data that put the 2015 U.S. crop below market estimates.
* Oil prices fell more than 1 percent on Thursday as the government's storm monitor altered forecasts for the path of the latest U.S. hurricane, snuffing out an early rally that was prompted by fears of storm damage to U.S. East Coast oil installations.
MARKET NEWS
* Global equities rose modestly on Thursday in choppy trading and as investors continued to examine the depths of China's slowdown and search for clarity on the timing of an interest rate hike from the U.S. Federal Reserve.
RELATED
> Wilmar scoops up 1.2 mln tonnes raw sugar in Oct expiry, prices
> ConAgra to cut 1,500 jobs, shift base to Chicago from Omaha
> Lack of rain slows planting in Brazil's top soy state - growers
> Welsh government reports "mad cow" case, says no risk to health
> Bulgaria opts out of growing genetically modified crops
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's May 1-10 palm oil export data on October 10.
> Cargo surveyor Societe Generale de Surveillance unveils August 1-10 palm oil exports in Malaysia on October 10.
Palm, soy and crude oil prices at 0037 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4480 +38.00 4454 4496 395834
CHINA SOYOIL JAN6 5406 +18.00 5384 5420 166578
CBOT SOY OIL DEC5 27.76 +3.70 27.67 27.78 724
INDIA PALM OIL SEP5 425.90 +3.70 421.60 426.40 569
INDIA SOYOIL OCT5 605.75 +2.65 601.10 607.30 50405
NYMEX CRUDE NOV5 44.74 -0.49 44.68 44.94 2150
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