MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 17
VEGOILS-Market Factors to Watch Nov 17
17/11/2015 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped for a second straight session on Monday due to slow-moving demand amid higher production, although a weaker ringgit MYR=, higher crude oil prices and improving exports limited falls. POI/
* U.S. soybean futures firmed on Monday, rising from 6-1/2 year lows on bargain-buying as investors covered bearish bets amid signs of strong export demand, traders said. GRA/
* Oil prices rose on Monday after strong losses last week, as Friday's deadly attacks in Paris raised geopolitical tensions that some said could threaten global oil supply. O/R
MARKET NEWS
* Asian stocks gained early on Tuesday, taking heart after seeing Wall Street take the attacks in Paris in stride and surge overnight, while expectations for a rate hike by the Federal Reserve in December kept the dollar on a bullish footing.
RELATED
> Sime Darby favours increasing yields over new plantations
> El Niño strengthening, will be among biggest on record - WMO
> Indonesia's 2016 raw sugar imports seen up 5 percent y/y -industry
> French silo operator Socomac stops taking deliveries at Rouen
> Cocoa climbs to 2011 high, arabica up from near 2-year low
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on November 20. Cargo surveyor SGS release Malaysian palm oil export data for the first 20 days of the month on November 20.
FUNDAMENTALS
* Malaysian palm oil futures dropped for a second straight session on Monday due to slow-moving demand amid higher production, although a weaker ringgit MYR=, higher crude oil prices and improving exports limited falls. POI/
* U.S. soybean futures firmed on Monday, rising from 6-1/2 year lows on bargain-buying as investors covered bearish bets amid signs of strong export demand, traders said. GRA/
* Oil prices rose on Monday after strong losses last week, as Friday's deadly attacks in Paris raised geopolitical tensions that some said could threaten global oil supply. O/R
MARKET NEWS
* Asian stocks gained early on Tuesday, taking heart after seeing Wall Street take the attacks in Paris in stride and surge overnight, while expectations for a rate hike by the Federal Reserve in December kept the dollar on a bullish footing.
RELATED
> Sime Darby favours increasing yields over new plantations
> El Niño strengthening, will be among biggest on record - WMO
> Indonesia's 2016 raw sugar imports seen up 5 percent y/y -industry
> French silo operator Socomac stops taking deliveries at Rouen
> Cocoa climbs to 2011 high, arabica up from near 2-year low
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on November 20. Cargo surveyor SGS release Malaysian palm oil export data for the first 20 days of the month on November 20.