MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 11
VEGOILS-Market Factors to Watch September 11
11/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday as traders took profits from an intra-day high that almost touched the 6-1/2-month high hit in the previous session.
* U.S. corn and wheat futures firmed slightly on Friday, supported by a round of end-of-week bargain buying after posting sharp declines on Thursday, traders said.
* U.S. crude prices tumbled down more than 3 percent on Friday worries that energy demand would be hit hard as Hurricane Irma, one of the most powerful storms in a century, headed toward Florida and the Southeast.
MARKET NEWS
* The U.S. dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile, tempering safe havens like the yen and Treasuries.
RELATED
> Hurricane Irma may cut power to over 9 mln people in Florida
> Ukraine may exit Egypt wheat market over new rules -minister
> Official Chinese think-tank raises 2017 corn output forecast
> Early yields in Canadian spring wheat harvest better than expected
> Will Saudi Aramco deliver world record profit for next year's IPO?
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5506 -26.00 5484 5530 198152
CHINA SOYOIL JAN8 6304 -52.00 6300 6332 148724
CBOT SOY OIL DEC7 34.89 +3.00 34.88 35.01 1174
INDIA PALM OIL SEP7 531.50 +3.00 527.50 533.8 2687
INDIA SOYOIL SEP7 660.95 -0.10 660.95 664.85 12650
NYMEX CRUDE OCT7 47.75 +0.27 47.57 47.78 10430
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 fell on Friday as traders took profits from an intra-day high that almost touched the 6-1/2-month high hit in the previous session.
* U.S. corn and wheat futures firmed slightly on Friday, supported by a round of end-of-week bargain buying after posting sharp declines on Thursday, traders said.
* U.S. crude prices tumbled down more than 3 percent on Friday worries that energy demand would be hit hard as Hurricane Irma, one of the most powerful storms in a century, headed toward Florida and the Southeast.
MARKET NEWS
* The U.S. dollar won a reprieve from risk aversion on Monday after North Korean dictator Kim Jong Un decided to hold a party over the weekend rather than launch another missile, tempering safe havens like the yen and Treasuries.
RELATED
> Hurricane Irma may cut power to over 9 mln people in Florida
> Ukraine may exit Egypt wheat market over new rules -minister
> Official Chinese think-tank raises 2017 corn output forecast
> Early yields in Canadian spring wheat harvest better than expected
> Will Saudi Aramco deliver world record profit for next year's IPO?
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
> Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Palm, soy and crude oil prices at 0041 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5506 -26.00 5484 5530 198152
CHINA SOYOIL JAN8 6304 -52.00 6300 6332 148724
CBOT SOY OIL DEC7 34.89 +3.00 34.88 35.01 1174
INDIA PALM OIL SEP7 531.50 +3.00 527.50 533.8 2687
INDIA SOYOIL SEP7 660.95 -0.10 660.95 664.85 12650
NYMEX CRUDE OCT7 47.75 +0.27 47.57 47.78 10430
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