MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 2
VEGOILS-Market Factors to Watch Nov 2
02/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dropped on Tuesday evening, hitting their lowest point in more than a week, weighed down by weaker performing rival soyoils on China's Dalian Commodity Exchange and the Chicago Board of Trade.
* Chicago Board of Trade soybean and corn futures fell on Tuesday on expectations the U.S. Department of Agriculture might raise its forecast of the U.S. soybean yield in a monthly report next week, traders said.
* Oil prices settled lower on Tuesday, then tumbled again after hours following a trade group's report of a U.S. crude inventory build nine times larger than forecast.
MARKET NEWS
* Global equity prices and the dollar fell sharply on Tuesday as investors sought safe havens amid mounting uncertainty about next week's U.S. presidential election.
RELATED
> Argentina tax revenue up 24.4 pct in October on high inflation
> NTL FCStone raises U.S. 2016 soy and corn yield estimates
> ADM profit jumps on higher U.S. grain exports; shares rise
> Frost cuts Western Australia wheat, grain production by 15 pct -largest exporter
> Indonesia's 2016 rice output may rise to 79.14 mln-agriculture min
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Nov 10.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Nov 10.
Palm, soy and crude oil prices at 0037 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 5848 -106.00 5844 5916 394688
CHINA SOYOIL JAN7 6632 -72.00 6632 6694 239768
CBOT SOY OIL DEC6 34.87 -1.00 34.8 34.91 1613
INDIA PALM OIL NOV6 513.90 -1.00 512.40 523 1748
INDIA SOYOIL NOV6 665.1 -2.80 665 669.8 18410
NYMEX CRUDE DEC6 46.40 -0.27 46.27 46.47 5101
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 dropped on Tuesday evening, hitting their lowest point in more than a week, weighed down by weaker performing rival soyoils on China's Dalian Commodity Exchange and the Chicago Board of Trade.
* Chicago Board of Trade soybean and corn futures fell on Tuesday on expectations the U.S. Department of Agriculture might raise its forecast of the U.S. soybean yield in a monthly report next week, traders said.
* Oil prices settled lower on Tuesday, then tumbled again after hours following a trade group's report of a U.S. crude inventory build nine times larger than forecast.
MARKET NEWS
* Global equity prices and the dollar fell sharply on Tuesday as investors sought safe havens amid mounting uncertainty about next week's U.S. presidential election.
RELATED
> Argentina tax revenue up 24.4 pct in October on high inflation
> NTL FCStone raises U.S. 2016 soy and corn yield estimates
> ADM profit jumps on higher U.S. grain exports; shares rise
> Frost cuts Western Australia wheat, grain production by 15 pct -largest exporter
> Indonesia's 2016 rice output may rise to 79.14 mln-agriculture min
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Oct palm oil export data on Nov 10.
> Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Nov 10.
Palm, soy and crude oil prices at 0037 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 5848 -106.00 5844 5916 394688
CHINA SOYOIL JAN7 6632 -72.00 6632 6694 239768
CBOT SOY OIL DEC6 34.87 -1.00 34.8 34.91 1613
INDIA PALM OIL NOV6 513.90 -1.00 512.40 523 1748
INDIA SOYOIL NOV6 665.1 -2.80 665 669.8 18410
NYMEX CRUDE DEC6 46.40 -0.27 46.27 46.47 5101
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