VEGOILS-Market Factors to Watch September 12
12/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures jumped to their highest level since March in Monday's session driven by a fall in production and higher exports that kept inventory numbers lower than expected. POI/
* U.S. wheat futures dipped to a one-week low on Monday as swelling harvest supplies in the Black Sea export region hung over a subdued market a day ahead of closely watched U.S. government crop forecasts. GRA/
* Oil prices rose on Monday as key U.S. refineries began restarts following Hurricane Harvey, which may help revive crude oil processing, while fuel prices fell as Hurricane Irma is likely to clip demand for gasoline and diesel. O/R
MARKET NEWS
* A global equity index and the S&P 500 surged to record highs on Monday, spurred by relief that Hurricane Irma weakened to a tropical storm and that North Korea's anniversary celebrations on the weekend passed without a new missile test. MKTS/GLOB
RELATED
> Hurricane Irma whips orange trees, shuts Tyson meat plants
> Russian wheat prices rise as farmers hold back on sales
> Brazil's August beef exports up 34 pct as food safety scandal wanes
> Raw sugar settles higher on Hurricane Irma worries in Cuba
> Largest U.S. refinery restarts production after Harvey
> 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 0029 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 5626 +56.00 5606 5670 261950
CHINA SOYOIL JAN8 6344 +10.00 6326 6392 183380
CBOT SOY OIL DEC7 35.06 +4.20 35.05 35.18 858
INDIA PALM OIL SEP7 535.60 +4.20 530.90 536.8 2300
INDIA SOYOIL SEP7 659.3 -2.05 659.1 661.8 8580
NYMEX CRUDE OCT7 48.01 -0.06 48.01 48.14 6722
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