MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 11
VEGOILS-Market Factors to Watch Nov 11
11/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest levels in over two and a half years in late trade on Thursday, supported by government data which showed lower than expected inventories for October.
* U.S. soybean futures rallied on Thursday, rebounding on technical buying after the previous session's steep losses, while corn edged higher and wheat lower in choppy trading as the dollar rose, traders said.
* Oil prices settled more than 1 percent lower on Thursday as markets recovered from shock over U.S. President-elect Donald Trump's victory and focused on oversupply concerns, as well as whether OPEC will decide later this month to cut production.
MARKET NEWS
* Asian shares dipped while the dollar strengthened broadly on Friday as U.S. bond yields soared on expectations U.S. President-elect Donald Trump's policies would stoke inflation.
RELATED
> IEA sees global market awash with oil in 2017 if no OPEC cut
> INTERVIEW-Growing LNG supply glut redefining global flows, long-term contracts -PIRA
> BREAKINGVIEWS-Oil industry just fine without U.S. help
> Russia's 2017 grain crop prospects brighter due to large sowing area
> Rain delays Australia wheat harvest, could dampen exports
> FranceAgriMer cuts maize crop estimate to 26-year low
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
> Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Palm, soy and crude oil prices at 0051 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 6258 +138.00 6142 6270 587904
CHINA SOYOIL JAN7 6734 +34.00 6684 6748 307486
CBOT SOY OIL DEC6 34.77 +3.20 0 0 0
INDIA PALM OIL NOV6 524.20 +3.20 517.00 526.9 1713
INDIA SOYOIL NOV6 670 -0.25 665.6 672.3 8730
NYMEX CRUDE DEC6 44.44 -0.22 44.35 44.50 3846
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 rose to their highest levels in over two and a half years in late trade on Thursday, supported by government data which showed lower than expected inventories for October.
* U.S. soybean futures rallied on Thursday, rebounding on technical buying after the previous session's steep losses, while corn edged higher and wheat lower in choppy trading as the dollar rose, traders said.
* Oil prices settled more than 1 percent lower on Thursday as markets recovered from shock over U.S. President-elect Donald Trump's victory and focused on oversupply concerns, as well as whether OPEC will decide later this month to cut production.
MARKET NEWS
* Asian shares dipped while the dollar strengthened broadly on Friday as U.S. bond yields soared on expectations U.S. President-elect Donald Trump's policies would stoke inflation.
RELATED
> IEA sees global market awash with oil in 2017 if no OPEC cut
> INTERVIEW-Growing LNG supply glut redefining global flows, long-term contracts -PIRA
> BREAKINGVIEWS-Oil industry just fine without U.S. help
> Russia's 2017 grain crop prospects brighter due to large sowing area
> Rain delays Australia wheat harvest, could dampen exports
> FranceAgriMer cuts maize crop estimate to 26-year low
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
> Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Palm, soy and crude oil prices at 0051 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 6258 +138.00 6142 6270 587904
CHINA SOYOIL JAN7 6734 +34.00 6684 6748 307486
CBOT SOY OIL DEC6 34.77 +3.20 0 0 0
INDIA PALM OIL NOV6 524.20 +3.20 517.00 526.9 1713
INDIA SOYOIL NOV6 670 -0.25 665.6 672.3 8730
NYMEX CRUDE DEC6 44.44 -0.22 44.35 44.50 3846
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