Malaysian palm oil/Vegoils: Market factors to watch Wednesday Oct 7

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday October 7.
    
FUNDAMENTALS
* Malaysian palm oil futures slid nearly 2 percent on Tuesday after a rally last month that
lifted prices to a 15-month high shifted demand for the tropical oil to rival Indonesia. 
* U.S. corn futures climbed to their highest in more than two months on Tuesday as traders
predicted the United States will cut its production estimate in a crop report due out on Friday.
 
* Oil prices jumped more than $2 a barrel on Tuesday, breaking out of a month-long trading range
on technical buying and industry talk as well as U.S. government data suggesting the global
supply glut could be ebbing. 
    
MARKET NEWS
* Crude oil surged 5 percent on Tuesday after the United States cut output forecasts, while
global equity markets mostly rose on expectations the Fed will not raise interest rates this
year, though Wall Street fell on slumping biotech stocks.    
        
RELATED
> Malaysia to curb palm oil imports as stockpiles grow             
> China, Sudan spearhead white sugar demand as market tightens     
> EU rapeseed area to rise slightly in 2016/17 - Strategie Grains  
> Ukraine to allow exports of 16.5 mln T wheat in 2015/16 - source 
> Vilmorin plays down interest in Syngenta vegetable seeds unit    
             
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's May 1-10 palm oil export data on October 10.
> Cargo surveyor Societe Generale de Surveillance unveils August 1-10 palm oil exports in
Malaysia on October 10.     
    
    
  Palm, soy and crude oil prices at 0037 GMT
                                                                           
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      OCT5       0    +0.00       0       0       0
  MY PALM OIL      NOV5       0    +0.00       0       0       0
  MY PALM OIL      DEC5       0    +0.00       0       0       0
  CHINA PALM OLEIN JAN6    4480   +38.00    4454    4496  395834
  CHINA SOYOIL     JAN6    5406   +18.00    5384    5420  166578
  CBOT SOY OIL     DEC5   27.76    +3.70   27.67   27.78     724
  INDIA PALM OIL   SEP5  425.90    +3.70  421.60  426.40     569
  INDIA SOYOIL     OCT5  605.75    +2.65  601.10  607.30   50405
  NYMEX CRUDE      NOV5   44.74    -0.49   44.68   44.94    2150
                                                                           
  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