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 in rangebound trade on Thursday as crude
price volatility kept investors on edge, although optimism that cheaper palm
prices would attract buying interest limited losses.
* Soybean and corn futures rose on Thursday on an export report that showed
recent price declines have sparked strong overseas demand for U.S. commodities,
traders said.
* Oil ended lower on Thursday as the debate over pricing continued after Saudi
Arabia announced deep discounts for the crude it sells Asian and U.S. buyers in
an apparent attempt to defend market share.
MARKET NEWS
* Asian shares edged higher in early trade on Friday, while the dollar marked
time ahead of the key U.S. jobs report later in the session that could help it
retake ground lost to the euro overnight.
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> Canada wheat, canola harvests top expectations
> World food prices stable for third month in November - FAO
> China 2014/15 soy imports seen up 4.5 pct at 73.5 mln T-chamber
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Dec. 1-10 palm oil exports on Dec. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-November palm oil stocks, exports and production on Dec. 10.
Palm, soy and crude oil prices at 0054 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5022 -32.00 5012 5048 729070
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.66 -3.50 0.00 0.00 0
INDIA PALM OIL DEC4 431.50 -3.50 429.20 435.50 1315
INDIA SOYOIL DEC4 569.70 -4.15 569.00 575.60 23455
NYMEX CRUDE JAN5 66.67 -0.14 66.62 66.83 710
- Reuters
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