KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures dipped on Wednesday as investors turned wary of
record supplies of rival oilseeds that could overwhelm global demand and curb
appetite for the tropical oil.
* U.S. corn and soybeans edged higher on Wednesday as investors covered short
positions after prices fell to multiyear lows earlier in the session and as
rains stalled record harvests in the Midwestern crop belt.
* Oil prices fell toward $94 a barrel on Wednesday, continuing a three-month
losing stretch as weak economic signals from China and Europe and ample global
supply continued to weigh.
MARKET NEWS
* Stock markets worldwide closed out the first day of the fourth quarter on a
weak note on Wednesday, weighed by disappointing manufacturing data in Europe
and the first confirmed case of Ebola in the United States.
RELATED
> Thailand, Malaysia support rubber floor price plan; futures slide
> Corn, soy rebound on short-covering after reaching multiyear lows
> Bunge scoops up 528,600 tonnes of sugar in October ICE delivery
> Ivory Coast posts record cocoa harvest, boosts farmer price
> ICE cocoa futures tumble on Ivory Coast prices, export data
> Egypt's FIHC tenders to buy 40,000 T sunflower oil -trade
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's October 1-10 palm oil exports on Oct. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-September palm oil stocks, exports and production on Oct. 10.
Palm, soy and crude oil prices at 0008 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT4 0 +0.00 0 0 0
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 0 +0.00 0 0 0
CHINA SOYOIL JAN5 5898 +62.00 5890 5958 313544
CBOT SOY OIL DEC4 33.00 +0.40 32.93 33.01 692
INDIA PALM OIL OCT4 465.00 +0.40 460.90 465.50 1410
INDIA SOYOIL OCT4 610.60 -3.40 606.60 615.80 74115
NYMEX CRUDE NOV4 90.98 +0.25 90.73 90.99 2736
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
- Reuters
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