MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Sept 30
VEGOILS-Market Factors to Watch Sept 30
30/09/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures came off near two-week lows to close marginally higher on Thursday, tracking gains in rival oilseed soy.
* U.S. soybean futures firmed on Thursday on a mild round of bargain buying and short-covering ahead of a key government report on Friday, traders said.
* Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut.
MARKET NEWS
* Crude oil futures rose on Thursday, adding to the previous session's rally on optimism over an OPEC plan to curb output, while stocks fell as Deutsche Bank tumbled after a report said trading clients have withdrawn excess cash and positions held in the largest German lender.
RELATED
> Trade expects light October deliveries of soyoil, soymeal
> Gulf Keystone says receives KRG payment for July oil exports
> Egypt's FIHC buys 30,000 T soybean oil, 37,000 T sunflower oil - trade
> IGC trims 2016/17 world corn crop forecast, raises wheat
> Louis Dreyfus stems profit slide but commodity headwinds persist
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.
FUNDAMENTALS
* Malaysian palm oil futures came off near two-week lows to close marginally higher on Thursday, tracking gains in rival oilseed soy.
* U.S. soybean futures firmed on Thursday on a mild round of bargain buying and short-covering ahead of a key government report on Friday, traders said.
* Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut.
MARKET NEWS
* Crude oil futures rose on Thursday, adding to the previous session's rally on optimism over an OPEC plan to curb output, while stocks fell as Deutsche Bank tumbled after a report said trading clients have withdrawn excess cash and positions held in the largest German lender.
RELATED
> Trade expects light October deliveries of soyoil, soymeal
> Gulf Keystone says receives KRG payment for July oil exports
> Egypt's FIHC buys 30,000 T soybean oil, 37,000 T sunflower oil - trade
> IGC trims 2016/17 world corn crop forecast, raises wheat
> Louis Dreyfus stems profit slide but commodity headwinds persist
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.