MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 2
VEGOILS-Market Factors to Watch Sept 2
02/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures prices dipped in trade on Thursday, hitting their lowest levels in nearly three weeks, as they tracked rival soybean oil prices.
* Chicago corn and wheat rose on Thursday as investors covered short positions and bought at bargain prices after the grains plumbed multi-year lows during eight-day skids on prospects of abundant U.S. and world supplies.
* Oil prices fell more than 3 percent on Thursday, heading for their sharpest weekly slide since January as investors brushed aside talk that OPEC might freeze production and focused on a growing glut from U.S. crude stockpiles.
MARKET NEWS
* The potential for a strong U.S. non-farm payrolls number later in day - and with it an elevated chance of a Federal Reserve rate hike soon - kept Asian financial markets nervously marking time on Friday.
RELATED
> Malaysia aims to "harmonise" palm oil export duty plan with Indonesia -minister
> Indian wheat supplies tight, may boost low global prices
> Saudi Aramco, Japan to expand Okinawa crude storage deal
> At least 8 oil companies to bid in Mexico Trion tender -sources
> Oil glut to ease by 2017, clean energy investment to rise - IEA's Birol
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0057 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5370 +30.00 5336 5374 321280
CHINA SOYOIL JAN7 6190 +14.00 6164 6194 157724
CBOT SOY OIL DEC6 32.59 +2.00 32.55 32.65 379
INDIA PALM OIL SEP6 550.10 +2.00 545.00 552.5 2452
INDIA SOYOIL SEP6 640 +0.60 637.4 642.6 19540
NYMEX CRUDE OCT6 43.60 +0.44 43.48 43.71 7686
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 prices dipped in trade on Thursday, hitting their lowest levels in nearly three weeks, as they tracked rival soybean oil prices.
* Chicago corn and wheat rose on Thursday as investors covered short positions and bought at bargain prices after the grains plumbed multi-year lows during eight-day skids on prospects of abundant U.S. and world supplies.
* Oil prices fell more than 3 percent on Thursday, heading for their sharpest weekly slide since January as investors brushed aside talk that OPEC might freeze production and focused on a growing glut from U.S. crude stockpiles.
MARKET NEWS
* The potential for a strong U.S. non-farm payrolls number later in day - and with it an elevated chance of a Federal Reserve rate hike soon - kept Asian financial markets nervously marking time on Friday.
RELATED
> Malaysia aims to "harmonise" palm oil export duty plan with Indonesia -minister
> Indian wheat supplies tight, may boost low global prices
> Saudi Aramco, Japan to expand Okinawa crude storage deal
> At least 8 oil companies to bid in Mexico Trion tender -sources
> Oil glut to ease by 2017, clean energy investment to rise - IEA's Birol
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
> Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Palm, soy and crude oil prices at 0057 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5370 +30.00 5336 5374 321280
CHINA SOYOIL JAN7 6190 +14.00 6164 6194 157724
CBOT SOY OIL DEC6 32.59 +2.00 32.55 32.65 379
INDIA PALM OIL SEP6 550.10 +2.00 545.00 552.5 2452
INDIA SOYOIL SEP6 640 +0.60 637.4 642.6 19540
NYMEX CRUDE OCT6 43.60 +0.44 43.48 43.71 7686
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