MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Oct 26
VEGOILS-Market Factors to Watch Oct 26
26/10/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures reversed gains from the more than two-year high reached the previous day, as the market reacted to revised industry data and a strengthening ringgit on Tuesday.
* U.S. wheat and corn futures were narrowly higher on Tuesday as traders covered short positions after prices for each crop fell to the lowest levels in more than a week.
* Oil settled down on Tuesday, then U.S. crude slid furtherbelow $50 a barrel in post-settlement trade after an industry group reportedthat U.S. oil inventories grew nearly three times as much as forecast.
MARKET NEWS
* U.S. stocks fell on disappointing earnings reports on Tuesday, while the U.S. dollar slipped from multi-month highs after Bank of England Governor Mark Carney cast doubt on expectations for more monetary stimulus.
RELATED
> Brazil cuts into U.S. soybean market share with China sales
> U.S. agency searches for proof of criminal use of herbicide dicamba
> ChemChina ready for concessions to clinch delayed Syngenta deal in 2017
> Malaysia's Oct 1-25 palm oil exports fall 10.9 pct -ITS
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-25 palm oil export data on Oct 25.
> Cargo surveyor SGS releases Malaysia's Oct 1-25 palm oil export data on Oct 25.
Palm, soy and crude oil prices at 2354 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5968 -34.00 5876 6038 760050
CHINA SOYOIL JAN7 6736 -36.00 6682 6810 461156
CBOT SOY OIL DEC6 35.8 -3.60 0 0 0
INDIA PALM OIL OCT6 535.70 -3.60 533.40 538 883
INDIA SOYOIL NOV6 671.55 -1.80 669.3 673 41980
NYMEX CRUDE DEC6 49.28 -0.68 49.21 49.39 5270
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 from the more than two-year high reached the previous day, as the market reacted to revised industry data and a strengthening ringgit on Tuesday.
* U.S. wheat and corn futures were narrowly higher on Tuesday as traders covered short positions after prices for each crop fell to the lowest levels in more than a week.
* Oil settled down on Tuesday, then U.S. crude slid furtherbelow $50 a barrel in post-settlement trade after an industry group reportedthat U.S. oil inventories grew nearly three times as much as forecast.
MARKET NEWS
* U.S. stocks fell on disappointing earnings reports on Tuesday, while the U.S. dollar slipped from multi-month highs after Bank of England Governor Mark Carney cast doubt on expectations for more monetary stimulus.
RELATED
> Brazil cuts into U.S. soybean market share with China sales
> U.S. agency searches for proof of criminal use of herbicide dicamba
> ChemChina ready for concessions to clinch delayed Syngenta deal in 2017
> Malaysia's Oct 1-25 palm oil exports fall 10.9 pct -ITS
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct 1-25 palm oil export data on Oct 25.
> Cargo surveyor SGS releases Malaysia's Oct 1-25 palm oil export data on Oct 25.
Palm, soy and crude oil prices at 2354 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV6 0 +0.00 0 0 0
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5968 -34.00 5876 6038 760050
CHINA SOYOIL JAN7 6736 -36.00 6682 6810 461156
CBOT SOY OIL DEC6 35.8 -3.60 0 0 0
INDIA PALM OIL OCT6 535.70 -3.60 533.40 538 883
INDIA SOYOIL NOV6 671.55 -1.80 669.3 673 41980
NYMEX CRUDE DEC6 49.28 -0.68 49.21 49.39 5270
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