MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 20
VEGOILS-Market Factors to Watch Sept 20
20/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures achieved their biggest daily gains in more than two weeks on Monday, supported by strength in rival oils and expectations that stockpiles will remain tight.
* U.S. soybeans rose on Monday for a third straight session, boosted by strength in vegetable oil markets and technical buying.
* Oil rallied on Monday before settling off its highs on skepticism over Venezuela's bid to talk up a potential OPEC output freeze and on indications U.S. crude stockpiles had risen last week.
MARKET NEWS
* The U.S. Treasury yield curve hit its steepest in more than two months on Wednesday, while world stock markets edged lower as investors fretted about future U.S. interest rate hikes.
RELATED
> Battered by war, Syria's wheat crop halved this year to new low
> China's soybean import growth to slow in 2016/17 - Grain Center
> Australia crimps beef export forecast as farmers cull less cattle
> Venezuela says global oil supply exceeds demand by 10 percent
> Suitors for Australia's largest wheat exporter CBH withdraw offer
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 20.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 20.
Palm, soy and crude oil prices at 2352 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5622 +164.00 5528 5626 561488
CHINA SOYOIL JAN7 6294 +106.00 6224 6296 259184
CBOT SOY OIL DEC6 33.08 +13.60 0 0 0
INDIA PALM OIL SEP6 580.50 +13.60 569.00 581.5 3162
INDIA SOYOIL SEP6 650.95 +3.75 649.2 651.3 4310
NYMEX CRUDE OCT6 43.25 -0.05 42.96 43.26 498
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 achieved their biggest daily gains in more than two weeks on Monday, supported by strength in rival oils and expectations that stockpiles will remain tight.
* U.S. soybeans rose on Monday for a third straight session, boosted by strength in vegetable oil markets and technical buying.
* Oil rallied on Monday before settling off its highs on skepticism over Venezuela's bid to talk up a potential OPEC output freeze and on indications U.S. crude stockpiles had risen last week.
MARKET NEWS
* The U.S. Treasury yield curve hit its steepest in more than two months on Wednesday, while world stock markets edged lower as investors fretted about future U.S. interest rate hikes.
RELATED
> Battered by war, Syria's wheat crop halved this year to new low
> China's soybean import growth to slow in 2016/17 - Grain Center
> Australia crimps beef export forecast as farmers cull less cattle
> Venezuela says global oil supply exceeds demand by 10 percent
> Suitors for Australia's largest wheat exporter CBH withdraw offer
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 20.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 20.
Palm, soy and crude oil prices at 2352 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5622 +164.00 5528 5626 561488
CHINA SOYOIL JAN7 6294 +106.00 6224 6296 259184
CBOT SOY OIL DEC6 33.08 +13.60 0 0 0
INDIA PALM OIL SEP6 580.50 +13.60 569.00 581.5 3162
INDIA SOYOIL SEP6 650.95 +3.75 649.2 651.3 4310
NYMEX CRUDE OCT6 43.25 -0.05 42.96 43.26 498
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