KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in more than three weeks on
Thursday, dragged by sliding crude prices and worries that bigger supplies of
rival edible oils would snatch food and fuel demand away from palm.
* Chicago grain and soybean futures rose on Thursday on technical buying,
rebounding from losses in the previous session that were due to forecasts for
favorable harvest weather in the week ahead.
* Oil prices rose in volatile trade on Thursday, as data showing tight U.S.
gasoline supplies and technical trading ahead of options expiry provided rare
support amid a long downturn.
MARKET NEWS
* Crude oil prices fell to a four-year low before rebounding and global equity
markets declined again on Thursday as investors fretted about world growth and a
resurgent European debt crisis after two years of stability.
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> Dry weather threatens Brazil soy crop in main growing state
> TRF-Family farms produce 80 percent of world's food, speculators seek land
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's October 1-20 palm oil exports on Oct. 20.
Palm, soy and crude oil prices at 0020 GMT
Contract Month Last Change Low High Volume
MY PALM OIL NOV4 0 +0.00 0 0 0
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN5 5220 +12.00 5158 5236 633300
CHINA SOYOIL JAN5 0 +0.00 0 0 0
CBOT SOY OIL DEC4 32.55 -0.50 32.36 32.55 429
INDIA PALM OIL OCT4 445.50 -0.50 440.10 445.90 1249
INDIA SOYOIL OCT4 590.90 +1.25 583.00 591.00 8875
NYMEX CRUDE NOV4 83.30 +0.60 82.95 83.31 1621
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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