MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 29
VEGOILS-Market Factors to Watch Sept 29
29/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday, tracking lower rival oils and as weaker exports weighed on market sentiment despite expectations of improved demand from India.
* U.S. corn and soybean futures weakened on Wednesday on expectations that drier weather in the coming days will allow farmers in the Midwest to ramp up the harvest of what is expected to be record-large crops, traders said.
* Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since 2008 and after the market crashed on oversupply.
MARKET NEWS
* Oil prices rallied on Wednesday after members of the Organization of the Petroleum Exporting Countries reached an agreement on a production-limiting deal, boosting energy sector shares.
RELATED
> European feeds-Soymeal firm after Chicago bounce
> CIF Gulf Grain-Soy basis steady to weaker as harvest pace accelerates
> Monsanto ally Novozymes sees opportunity, risk in Bayer merger
> U.S. wheat firms on rising export hopes; corn, soy weak
> ICE Canada canola dips on soyoil weakness
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0126 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 5662 -16.00 5590 5678 409832
CHINA SOYOIL JAN7 6336 +10.00 6272 6346 220504
CBOT SOY OIL DEC6 33.08 +0.17 32.95 33.15 2384
INDIA PALM OIL SEP6 579.00 +0.30 576.50 580 1043
INDIA SOYOIL OCT6 652.95 -3.20 651.2 656.5 49450
NYMEX CRUDE NOV6 47.28 +0.23 47.06 47.47 22441
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 fell on Wednesday, tracking lower rival oils and as weaker exports weighed on market sentiment despite expectations of improved demand from India.
* U.S. corn and soybean futures weakened on Wednesday on expectations that drier weather in the coming days will allow farmers in the Midwest to ramp up the harvest of what is expected to be record-large crops, traders said.
* Oil prices settled up nearly 6 percent on Wednesday after OPEC struck a deal to limit crude output at its policy meeting in November, its first agreement to cut production since 2008 and after the market crashed on oversupply.
MARKET NEWS
* Oil prices rallied on Wednesday after members of the Organization of the Petroleum Exporting Countries reached an agreement on a production-limiting deal, boosting energy sector shares.
RELATED
> European feeds-Soymeal firm after Chicago bounce
> CIF Gulf Grain-Soy basis steady to weaker as harvest pace accelerates
> Monsanto ally Novozymes sees opportunity, risk in Bayer merger
> U.S. wheat firms on rising export hopes; corn, soy weak
> ICE Canada canola dips on soyoil weakness
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0126 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 5662 -16.00 5590 5678 409832
CHINA SOYOIL JAN7 6336 +10.00 6272 6346 220504
CBOT SOY OIL DEC6 33.08 +0.17 32.95 33.15 2384
INDIA PALM OIL SEP6 579.00 +0.30 576.50 580 1043
INDIA SOYOIL OCT6 652.95 -3.20 651.2 656.5 49450
NYMEX CRUDE NOV6 47.28 +0.23 47.06 47.47 22441
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