Malaysian palm oil/Vegoils: Market factors to watch Thursday Nov 12

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday November 12.
    
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday on an unexpected rise in production and a
slightly stronger ringgit, resuming its downtrend after a one-session rise. 
* U.S. corn and soybean futures edged higher on Wednesday on consolidation and technical buying
after hitting contract lows a day earlier due to bearish U.S. Department of Agriculture supply
and demand forecasts. 
* Oil prices fell about 3 percent on Wednesday, hitting August lows, on worries U.S. crude
inventories were piling up and Iraq was bringing on more supply that would intensify OPEC's
fight for market share. 
    
MARKET NEWS
* Brent crude oil prices hit their lowest since late August on Wednesday on worries about
growing U.S. stockpiles, while the U.S. dollar took a breather from recent gains.   
        
RELATED
> Malaysia's Oct palm stocks rise above forecast to near 15-year high  
> Malaysia's Nov 1 - 10 palm oil exports fall 5.3 pct -ITS             
> El Nino may stir grain markets more than Black Sea drought           
> Argentina ruling party presidential candidate would cut soy tax      
> London cocoa rises to 2011 high, sugar turns lower after rally       
   
    
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on November 15.

  Palm, soy and crude oil prices at 0017 GMT
                                                                  
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      NOV5       0    +0.00       0       0       0
  MY PALM OIL      DEC5       0    +0.00       0       0       0
  MY PALM OIL      JAN6       0    +0.00       0       0       0
  CHINA PALM OLEIN JAN6    4380   +24.00    4374    4406  413850
  CHINA SOYOIL     JAN6    5612   +36.00    5592    5634  313896
  CBOT SOY OIL     DEC5   28.50    +5.10    0.00    0.00       0
  INDIA PALM OIL   NOV5  405.50    +5.10  402.50  408.30    3073
  INDIA SOYOIL     NOV5  628.40    +1.25  625.80  630.50   34160
  NYMEX CRUDE      DEC5   46.46    +0.14   46.36   46.63    1090
                                                                  
  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