MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch September 27
VEGOILS-Market Factors to Watch September 27
27/09/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures saw their strongest daily gain in three weeks on Tuesday, rebounding from two days of losses, on concerns of weaker output growth.
* U.S. corn fell for a second consecutive session on Wednesday as ample global supplies, expected to be confirmed by the U.S. Department of Agriculture later this week, pressured prices.
* Oil prices ended 1 percent lower on Tuesday after investors took profits following a rally to 26-month highs spurred largely by threats from Turkey to cut crude exports from Iraq’s Kurdistan region.
MARKET NEWS
* The dollar climbed to a one-month high and bond yields rose on Wednesday as risks grew for a U.S. interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated.
RELATED
> EPA signals cut to U.S. biodiesel blending; soyoil prices drop
> Brazil soy trader offers assets to CHS, Bunge in bankruptcy case -sources
> China delays deadline for implementing food import rules after industry pushback
> Louis Dreyfus to wind down Edesia commodity funds in overhaul
> Syngenta agrees to settle U.S. farmer lawsuits over GMO corn
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0114 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5616 +16.00 5612 5672 249534
CHINA SOYOIL JAN8 6144 -44.00 6140 6212 208294
CBOT SOY OIL DEC7 33.49 +4.00 33.4 33.55 5111
INDIA PALM OIL SEP7 547.50 +4.00 545.10 548.8 588
INDIA SOYOIL OCT7 677 +0.10 676 679 19210
NYMEX CRUDE NOV7 52.11 +0.23 52.03 52.16 6504
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 saw their strongest daily gain in three weeks on Tuesday, rebounding from two days of losses, on concerns of weaker output growth.
* U.S. corn fell for a second consecutive session on Wednesday as ample global supplies, expected to be confirmed by the U.S. Department of Agriculture later this week, pressured prices.
* Oil prices ended 1 percent lower on Tuesday after investors took profits following a rally to 26-month highs spurred largely by threats from Turkey to cut crude exports from Iraq’s Kurdistan region.
MARKET NEWS
* The dollar climbed to a one-month high and bond yields rose on Wednesday as risks grew for a U.S. interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions in the Korean peninsula remain elevated.
RELATED
> EPA signals cut to U.S. biodiesel blending; soyoil prices drop
> Brazil soy trader offers assets to CHS, Bunge in bankruptcy case -sources
> China delays deadline for implementing food import rules after industry pushback
> Louis Dreyfus to wind down Edesia commodity funds in overhaul
> Syngenta agrees to settle U.S. farmer lawsuits over GMO corn
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
> Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Sept 30.
Palm, soy and crude oil prices at 0114 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
MY PALM OIL DEC7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5616 +16.00 5612 5672 249534
CHINA SOYOIL JAN8 6144 -44.00 6140 6212 208294
CBOT SOY OIL DEC7 33.49 +4.00 33.4 33.55 5111
INDIA PALM OIL SEP7 547.50 +4.00 545.10 548.8 588
INDIA SOYOIL OCT7 677 +0.10 676 679 19210
NYMEX CRUDE NOV7 52.11 +0.23 52.03 52.16 6504
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