MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 22
VEGOILS-Market Factors to Watch Sept 22
22/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed gains on late on Wednesday in its first decline after three consecutive sessions of gains, weighed down by a weaker export outlook and profit taking.
* U.S. soybean and corn futures fell on Thursday, pressured by profit taking after a streak of gains and by weakness on the cash market, traders said.
* Oil prices rose as much as 3 percent on Wednesday after a third surprise weekly drop in U.S.crude stockpiles boosted the demand outlook in the world's largest oil consumer.
MARKET NEWS
* Asian shares look set to rise for a sixth straight session on Thursday after the Federal Reserve left U.S. rates unchanged and plotted a lower trajectory for future hikes, slugging the dollar and boosting commodity prices.
RELATED
> Higher demand to push up India's palm oil imports in 2016/17
> Malaysian palm refiners face low margins, underutilized capacity as CPO supplies tighten
> Flour Mills of Nigeria targets export to Europe, weaker naira helps
> Cattle hit 4-week high on technicals, China export hopes
> Oil analysts cite 'adjustment factor' for shocking U.S. crude draw
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.
Palm, soy and crude oil prices at 0049 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 5716 +4.00 5676 5736 430636
CHINA SOYOIL JAN7 6350 -6.00 6326 6372 206252
CBOT SOY OIL DEC6 33.82 +2.20 33.67 33.85 624
INDIA PALM OIL SEP6 590.50 +2.20 584.60 591.3 1424
INDIA SOYOIL OCT6 665.5 -0.30 662.9 667.4 39990
NYMEX CRUDE NOV6 45.60 +0.26 45.52 45.68 4957
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 reversed gains on late on Wednesday in its first decline after three consecutive sessions of gains, weighed down by a weaker export outlook and profit taking.
* U.S. soybean and corn futures fell on Thursday, pressured by profit taking after a streak of gains and by weakness on the cash market, traders said.
* Oil prices rose as much as 3 percent on Wednesday after a third surprise weekly drop in U.S.crude stockpiles boosted the demand outlook in the world's largest oil consumer.
MARKET NEWS
* Asian shares look set to rise for a sixth straight session on Thursday after the Federal Reserve left U.S. rates unchanged and plotted a lower trajectory for future hikes, slugging the dollar and boosting commodity prices.
RELATED
> Higher demand to push up India's palm oil imports in 2016/17
> Malaysian palm refiners face low margins, underutilized capacity as CPO supplies tighten
> Flour Mills of Nigeria targets export to Europe, weaker naira helps
> Cattle hit 4-week high on technicals, China export hopes
> Oil analysts cite 'adjustment factor' for shocking U.S. crude draw
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.
Palm, soy and crude oil prices at 0049 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 5716 +4.00 5676 5736 430636
CHINA SOYOIL JAN7 6350 -6.00 6326 6372 206252
CBOT SOY OIL DEC6 33.82 +2.20 33.67 33.85 624
INDIA PALM OIL SEP6 590.50 +2.20 584.60 591.3 1424
INDIA SOYOIL OCT6 665.5 -0.30 662.9 667.4 39990
NYMEX CRUDE NOV6 45.60 +0.26 45.52 45.68 4957
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