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 stretched their winning streak into a third day on
Wednesday, as the ringgit fell and as investors expected output to drop this
month, although a fall in crude oil prices hampered gains.
* Soybeans slipped on Wednesday on rising expectations of a huge U.S. harvest
and spread trading against corn.
* Brent crude hit a 27-month low on Wednesday before recovering partially to
close above $91 a barrel, with analysts saying the market could be headed for a
rebound despite growing stockpiles and a gloomy world economic outlook.
MARKET NEWS
* U.S. stocks soared and the dollar fell on Wednesday on a wave of investor
relief after the Federal Reserve said it does not plan to hike interest rates
before the economy can support an increase.
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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 0010 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 5230 -10.00 5222 5252 178512
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.92 -0.10 32.92 33.02 311
NYMEX CRUDE NOV4 87.74 +0.43 87.69 87.88 1426
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
Crude in U.S. dollars per barrel
- Reuters
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