KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday November 20.
FUNDAMENTALS
* Malaysian palm oil futures fell on weak export demand on Thursday, with a stronger ringgit
also adding downward pressure on prices.
* U.S. wheat, corn and soybean futures all firmed on Thursday on support from
better-than-expected export sales reports for all three commodities, traders said.
* Brent oil futures settled steady on Thursday while U.S. crude fell ahead of the expiry of the
front-month contract and continued pressure from large inventory builds.
MARKET NEWS
* The U.S. dollar pulled back on Thursday after four sessions of gains and U.S. stocks edged
lower in choppy trade as the prospect that the U.S. Federal Reserve will hike interest rates
next month gained steam.
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DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-20 palm oil export data on November 20. Cargo
surveyor SGS release Malaysian palm oil export data for the first 20 days of the month on
November 20.
Palm, soy and crude oil prices at 0045 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC5 0 +0.00 0 0 0
MY PALM OIL JAN6 0 +0.00 0 0 0
MY PALM OIL FEB6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4078 -34.00 3984 4100 1296868
CHINA SOYOIL JAN6 5444 -2.00 5364 5454 289884
CBOT SOY OIL DEC5 27.55 -2.40 0.00 0.00 0
INDIA PALM OIL NOV5 383.70 -2.40 382.90 385.80 779
INDIA SOYOIL NOV5 591.75 -2.75 591.00 597.00 830
NYMEX CRUDE DEC5 40.59 +0.05 40.54 40.67 145
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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