MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 10
VEGOILS-Market Factors to Watch Nov 10
10/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures dipped at the close on Wednesday but trading sentiment remained supported by a leading analyst's upward revision of the price outlook ahead of monsoon rains.
* U.S. corn futures slid on Wednesday to their lowest level in almost a month and soybean futures weakened after the U.S. Department of Agriculture raised its domestic harvest estimates from already record-high levels.
* Oil prices edged higher on Wednesday as stocks and the dollar bounced back from a huge early slide following Donald Trump's surprise victory in the U.S. presidential election.
MARKET NEWS
* Asian shares were set to rally hard on Thursday after global markets made a truly remarkable comeback from the shock of Republican Donald Trump's presidential victory, dumping safe-havens for the tempting returns of risk assets.
RELATED
> Trump's energy policies yet to be defined: Kemp
> Under govt pressure, China's top coal miners to cut long-term prices
> Copper rally could signal break of downtrend but short-term dips loom
> Warm autumn weather cools U.S. feed demand, worsening grain glut
> Commodities' outlook depends on if Trump reality matches rhetoric: Russell
> U.S. biofuels credit prices whipsaw after surprise Trump victory
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 0042 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 6130 +14.00 6066 6222 688032
CHINA SOYOIL JAN7 6730 +22.00 6666 6796 387976
CBOT SOY OIL DEC6 34.31 +1.70 0 0 0
INDIA PALM OIL NOV6 521.00 +1.70 509.40 521.7 2173
INDIA SOYOIL NOV6 669.95 -0.05 662 676.9 15820
NYMEX CRUDE DEC6 45.13 -0.14 45.07 45.38 4450
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 dipped at the close on Wednesday but trading sentiment remained supported by a leading analyst's upward revision of the price outlook ahead of monsoon rains.
* U.S. corn futures slid on Wednesday to their lowest level in almost a month and soybean futures weakened after the U.S. Department of Agriculture raised its domestic harvest estimates from already record-high levels.
* Oil prices edged higher on Wednesday as stocks and the dollar bounced back from a huge early slide following Donald Trump's surprise victory in the U.S. presidential election.
MARKET NEWS
* Asian shares were set to rally hard on Thursday after global markets made a truly remarkable comeback from the shock of Republican Donald Trump's presidential victory, dumping safe-havens for the tempting returns of risk assets.
RELATED
> Trump's energy policies yet to be defined: Kemp
> Under govt pressure, China's top coal miners to cut long-term prices
> Copper rally could signal break of downtrend but short-term dips loom
> Warm autumn weather cools U.S. feed demand, worsening grain glut
> Commodities' outlook depends on if Trump reality matches rhetoric: Russell
> U.S. biofuels credit prices whipsaw after surprise Trump victory
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 0042 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 6130 +14.00 6066 6222 688032
CHINA SOYOIL JAN7 6730 +22.00 6666 6796 387976
CBOT SOY OIL DEC6 34.31 +1.70 0 0 0
INDIA PALM OIL NOV6 521.00 +1.70 509.40 521.7 2173
INDIA SOYOIL NOV6 669.95 -0.05 662 676.9 15820
NYMEX CRUDE DEC6 45.13 -0.14 45.07 45.38 4450
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