KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday October 9.
FUNDAMENTALS
* Malaysian palm oil futures fell for a third day on Thursday as a bearish outlook on key data
that will be released next week and a stabilising ringgit dampened market sentiment.
* U.S. grain futures on Thursday extended a setback from 10-week highs reached a session
earlier, pressured by an influx of fresh supplies from U.S. harvests and profit taking ahead of
the release of highly anticipated crop data.
* Oil prices climbed to their highest in three months on Thursday after a closely watched oil
forecaster predicted prices would climb to $75 over the next two years, adding to early gains
notched after a rally in Chinese stocks worries about Syria.
MARKET NEWS
* Asian shares rose on Friday, taking their cue from a jump in oil prices as well as gains on
Wall Street after minutes of the Federal Reserve's latest meeting led investors to further pare
bets that the central bank will hike interest rates this year.
RELATED
> Oil surges to settle at 3-month high on bullish outlook
> Bank of England quizzing UK banks over commodities exposure
> Oil market oracle PIRA sees $75 crude by 2017
> Harvest pressure hits prices before U.S. crop reports
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.
> Malaysian Palm Oil Board (MPOB) releases Malaysia's end-September palm oil data on October 12.
Palm, soy and crude oil prices at 0054 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 4462 -42.00 4442 4488 328250
CHINA SOYOIL JAN6 5456 -6.00 5438 5462 137072
CBOT SOY OIL DEC5 28.34 -7.40 28.25 28.34 2077
INDIA PALM OIL OCT5 420.00 -7.40 418.40 426.70 2084
INDIA SOYOIL OCT5 625.30 -3.00 622.70 633.00 35425
NYMEX CRUDE NOV5 49.57 +0.14 49.54 49.71 2524
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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