MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 23
VEGOILS-Market Factors to Watch Sept 23
23/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures recorded a fourth session of gains in five on Thursday, supported by expectations of lower output and better than forecast export demand.
* Chicago Board of Trade corn futures sagged 1.1 percent on Thursday on a round of fund selling as the pace of harvest quickened around the U.S. Midwest and cash markets weakened, traders said.
* Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, but crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut.
MARKET NEWS
* World stock indexes and bond prices climbed on Thursday, extending gains from a day earlier, when the U.S. Federal Reserve signaled an increasingly cautious approach to future interest rate hikes.
RELATED
> Egypt's GASC buys 240,000 tonnes of Russian wheat after amending terms
> China, Canada resolve canola-shipping dispute
> China conditionally lifts ban on some U.S., Canadian beef
> OPEC in new push to clinch first deal to curb output since 2008
> France imports more wheat as bad crop hits starch makers
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 0023 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 5762 +40.00 5738 5784 465832
CHINA SOYOIL JAN7 6418 +40.00 6400 6448 254032
CBOT SOY OIL DEC6 34.25 +6.40 34.12 34.26 415
INDIA PALM OIL SEP6 596.60 +6.40 587.40 597 2085
INDIA SOYOIL OCT6 670.3 +5.10 662.1 671.5 64930
NYMEX CRUDE NOV6 45.95 -0.37 45.87 46.07 5178
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 recorded a fourth session of gains in five on Thursday, supported by expectations of lower output and better than forecast export demand.
* Chicago Board of Trade corn futures sagged 1.1 percent on Thursday on a round of fund selling as the pace of harvest quickened around the U.S. Midwest and cash markets weakened, traders said.
* Oil prices rallied again on Thursday, boosted for a second day by U.S. government data that showed a surprising crude inventory drop, but crude futures pared gains as traders worried that OPEC was not nearing an agreement to reduce a global glut.
MARKET NEWS
* World stock indexes and bond prices climbed on Thursday, extending gains from a day earlier, when the U.S. Federal Reserve signaled an increasingly cautious approach to future interest rate hikes.
RELATED
> Egypt's GASC buys 240,000 tonnes of Russian wheat after amending terms
> China, Canada resolve canola-shipping dispute
> China conditionally lifts ban on some U.S., Canadian beef
> OPEC in new push to clinch first deal to curb output since 2008
> France imports more wheat as bad crop hits starch makers
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 0023 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 5762 +40.00 5738 5784 465832
CHINA SOYOIL JAN7 6418 +40.00 6400 6448 254032
CBOT SOY OIL DEC6 34.25 +6.40 34.12 34.26 415
INDIA PALM OIL SEP6 596.60 +6.40 587.40 597 2085
INDIA SOYOIL OCT6 670.3 +5.10 662.1 671.5 64930
NYMEX CRUDE NOV6 45.95 -0.37 45.87 46.07 5178
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