MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Nov 18
VEGOILS-Market Factors to Watch Nov 18
18/11/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose in trade on Thursday evening, aided by a weaker ringgit MYR=, which hit a near 10-month low, and stronger-performing rival oils on China's Dalian Commodity Exchange.
* U.S. wheat futures rose about 1.5 percent on Thursday as expectations for a drop in U.S. wheat plantings for 2017 and strong weekly export sales prompted short-covering, traders said.
* Oil prices settled slightly lower on Thursday, then fell as much as 1 percent in the after-market session as a stronger dollar outweighed expectations of an OPEC deal to limit production.
MARKET NEWS
* The U.S. dollar climbed to a 13-1/2-year high and global stock indexes rose on Thursday after comments by U.S. Federal Reserve Chair Janet Yellen bolstered the case for raising interest rates next month.
RELATED
> Indian farmers fear lost crops and income after "black money" move
> Big chill: early winter stokes North Asian appetite for oil, coal, gas
> Saudi's Falih urges OPEC to cut oil output to low end of target
> Trump fears push nations at Morocco talks to call climate action an "urgent duty"
> Informa raises US 2017 soy area forecast, cuts wheat -trade
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on Nov 20.
> Cargo surveyor SGS releases Malaysia's Nov 1-20 palm oil export data on Nov 20.
Palm, soy and crude oil prices at 0027 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6110 -14.00 6102 6194 341314
CHINA SOYOIL JAN7 6632 -16.00 6620 6674 129566
CBOT SOY OIL DEC6 33.7 +0.60 0 0 0
INDIA PALM OIL NOV6 527.20 +0.60 526.70 532.9 960
INDIA SOYOIL NOV6 686 +3.95 683.7 687.1 2270
NYMEX CRUDE DEC6 45.00 -0.42 44.91 45.09 1034
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 in trade on Thursday evening, aided by a weaker ringgit MYR=, which hit a near 10-month low, and stronger-performing rival oils on China's Dalian Commodity Exchange.
* U.S. wheat futures rose about 1.5 percent on Thursday as expectations for a drop in U.S. wheat plantings for 2017 and strong weekly export sales prompted short-covering, traders said.
* Oil prices settled slightly lower on Thursday, then fell as much as 1 percent in the after-market session as a stronger dollar outweighed expectations of an OPEC deal to limit production.
MARKET NEWS
* The U.S. dollar climbed to a 13-1/2-year high and global stock indexes rose on Thursday after comments by U.S. Federal Reserve Chair Janet Yellen bolstered the case for raising interest rates next month.
RELATED
> Indian farmers fear lost crops and income after "black money" move
> Big chill: early winter stokes North Asian appetite for oil, coal, gas
> Saudi's Falih urges OPEC to cut oil output to low end of target
> Trump fears push nations at Morocco talks to call climate action an "urgent duty"
> Informa raises US 2017 soy area forecast, cuts wheat -trade
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on Nov 20.
> Cargo surveyor SGS releases Malaysia's Nov 1-20 palm oil export data on Nov 20.
Palm, soy and crude oil prices at 0027 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC6 0 +0.00 0 0 0
MY PALM OIL JAN7 0 +0.00 0 0 0
MY PALM OIL FEB7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 6110 -14.00 6102 6194 341314
CHINA SOYOIL JAN7 6632 -16.00 6620 6674 129566
CBOT SOY OIL DEC6 33.7 +0.60 0 0 0
INDIA PALM OIL NOV6 527.20 +0.60 526.70 532.9 960
INDIA SOYOIL NOV6 686 +3.95 683.7 687.1 2270
NYMEX CRUDE DEC6 45.00 -0.42 44.91 45.09 1034
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