KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday September 10.
FUNDAMENTALS
* Malaysian palm oil futures hit a six-week high on Wednesday, supported by short-covering and
technical buying ahead of production data due later this week.
* U.S. soybean futures dipped on Wednesday on better-than-expected U.S. crop ratings and
concerns about sluggish export demand. Wheat futures also declined, while corn traded near
unchanged.
* Oil prices fell nearly 4 percent on Wednesday, pressured by ample supply and concerns about
demand being curbed by slowing economic growth.
MARKET NEWS
* U.S. stocks fell on Wednesday, weighed down by a slide in Apple's share price and weakness in
the energy sector, though European and major Asian bourses earlier ended higher.
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DATA/EVENTS
> Malaysian Palm Oil Board to release data on Malaysia's August palm oil production on September
10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's September 1-10 palm oil exports on September 10.
Palm, soy and crude oil prices at 0005 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 0 +0.00 0 0 0
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 0 +0.00 0 0 0
CHINA SOYOIL JAN6 0 +0.00 0 0 0
CBOT SOY OIL DEC5 27.08 +4.50 26.98 27.09 438
INDIA PALM OIL SEP5 380.00 +4.50 375.50 381.90 2781
INDIA SOYOIL OCT5 573.00 +0.65 571.20 574.50 37125
NYMEX CRUDE OCT5 46.77 +0.02 46.61 46.85 1086
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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