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
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