MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 11
VEGOILS-Market Factors to Watch Oct 11
11/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined for a second straight session on Monday evening, weighed down by higher September end-stocks and on a technical correction.
* U.S. wheat futures rose more than 2 percent on Monday on short-covering and spillover strength from the crude oil market, analysts said.
* Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers.
MARKET NEWS
* U.S. stocks strode higher on Monday, lifted by Hillary Clinton's widening lead in the U.S. presidential campaign and by a surge in oil prices, while sterling was under pressure on concerns Britain will make a hard exit from the European Union.
RELATED
> Malaysia's Oct 1-10 palm oil exports rose 1.9 pct -SGS
> Malaysia's end-Sept stockpiles rose while exports dropped - MPOB
> Malaysia's Oct 1 - 10 palm oil exports rise 10.8 pct -ITS
> France lifts slightly estimate of 2016 maize crop, cuts wheat
> Global oil producers say possible to reach output cut when OPEC meets
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 15
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0030 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 5512 +52.00 5444 5520 350726
CHINA SOYOIL JAN7 6394 +82.00 6316 6416 295326
CBOT SOY OIL DEC6 33.89 +4.70 33.86 33.97 1368
INDIA PALM OIL OCT6 516.50 +4.70 509.60 521.8 2326
INDIA SOYOIL OCT6 650.7 -2.30 646.5 653 17390
NYMEX CRUDE NOV6 51.30 -0.05 51.10 51.32 3934
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 declined for a second straight session on Monday evening, weighed down by higher September end-stocks and on a technical correction.
* U.S. wheat futures rose more than 2 percent on Monday on short-covering and spillover strength from the crude oil market, analysts said.
* Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year high, after Russia said it was ready to join OPEC in curbing crude output and Algeria called for similar commitments from other non-OPEC producers.
MARKET NEWS
* U.S. stocks strode higher on Monday, lifted by Hillary Clinton's widening lead in the U.S. presidential campaign and by a surge in oil prices, while sterling was under pressure on concerns Britain will make a hard exit from the European Union.
RELATED
> Malaysia's Oct 1-10 palm oil exports rose 1.9 pct -SGS
> Malaysia's end-Sept stockpiles rose while exports dropped - MPOB
> Malaysia's Oct 1 - 10 palm oil exports rise 10.8 pct -ITS
> France lifts slightly estimate of 2016 maize crop, cuts wheat
> Global oil producers say possible to reach output cut when OPEC meets
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-10 palm oil export data on Oct 15
> Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 15.
Palm, soy and crude oil prices at 0030 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 5512 +52.00 5444 5520 350726
CHINA SOYOIL JAN7 6394 +82.00 6316 6416 295326
CBOT SOY OIL DEC6 33.89 +4.70 33.86 33.97 1368
INDIA PALM OIL OCT6 516.50 +4.70 509.60 521.8 2326
INDIA SOYOIL OCT6 650.7 -2.30 646.5 653 17390
NYMEX CRUDE NOV6 51.30 -0.05 51.10 51.32 3934
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