MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 14
VEGOILS-Market Factors to Watch Sept 14
14/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures registered their biggest fall in nearly a month in evening trade on Tuesday, dragged down by forecasts of rising output in September and slower export demand from China and India.
* U.S. soybean futures dropped more than 2 percent on Tuesday, extending the previous session's steep losses after the U.S. Department of Agriculture raised its production forecast well above market expectations.
* Oil prices fell as much as 3 percent on Tuesday after both the world's energy watchdog and OPEC revised forecasts that signaled the global crude glut could persist for much longer than expected.
MARKET NEWS
* World stock markets and energy prices fell on Tuesday after energy consumers and producers both predicted an oil glut was likely to persist well into next year.
RELATED
> Bayer nears acquisition of Monsanto -sources
> Global upstream oil and gas spending to fall 24 pct in 2016 - IEA
> Argentina considers postponement of planned soy tax cut
> Cocoa exporters prepare to pick up bargains in Ivory Coast resales
> China's Sanonda to buy Israel's Adama Agricultural for $2.8 bln
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0033 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 5402 -94.00 5396 5506 579848
CHINA SOYOIL JAN7 6158 -60.00 6140 6222 242458
CBOT SOY OIL DEC6 31.82 -5.50 31.79 31.85 862
INDIA PALM OIL SEP6 561.30 -5.50 561.00 566.2 898
INDIA SOYOIL SEP6 640.25 -5.75 639.5 644 2090
NYMEX CRUDE OCT6 45.19 +0.29 44.97 45.28 8118
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 registered their biggest fall in nearly a month in evening trade on Tuesday, dragged down by forecasts of rising output in September and slower export demand from China and India.
* U.S. soybean futures dropped more than 2 percent on Tuesday, extending the previous session's steep losses after the U.S. Department of Agriculture raised its production forecast well above market expectations.
* Oil prices fell as much as 3 percent on Tuesday after both the world's energy watchdog and OPEC revised forecasts that signaled the global crude glut could persist for much longer than expected.
MARKET NEWS
* World stock markets and energy prices fell on Tuesday after energy consumers and producers both predicted an oil glut was likely to persist well into next year.
RELATED
> Bayer nears acquisition of Monsanto -sources
> Global upstream oil and gas spending to fall 24 pct in 2016 - IEA
> Argentina considers postponement of planned soy tax cut
> Cocoa exporters prepare to pick up bargains in Ivory Coast resales
> China's Sanonda to buy Israel's Adama Agricultural for $2.8 bln
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0033 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 5402 -94.00 5396 5506 579848
CHINA SOYOIL JAN7 6158 -60.00 6140 6222 242458
CBOT SOY OIL DEC6 31.82 -5.50 31.79 31.85 862
INDIA PALM OIL SEP6 561.30 -5.50 561.00 566.2 898
INDIA SOYOIL SEP6 640.25 -5.75 639.5 644 2090
NYMEX CRUDE OCT6 45.19 +0.29 44.97 45.28 8118
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