KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures ended higher for the third straight day on Monday
but trade was thin, with most investors steering clear of risky bets as they
waited for an industry report on palm stocks and production in the world's
second-biggest producer.
* U.S. wheat futures rose on Monday as expectations of production declines in
Russia and Ukraine put a premium on high-protein supplies, traders said.
* Crude oil futures on both sides of the Atlantic pared losses on Monday after
a sharp drop in earlier trade, following a report that a key pipeline delivering
crude oil from Cushing, Oklahoma, had resumed shipping after an earlier
outage.
MARKET NEWS
* The dollar skidded to near an eight-month low on Tuesday as the U.S.
government shutdown entered its second week, leaving investors on tenterhooks
with politicians in Washington making little headway in agreeing on a deal to
avoid a historic U.S. debt default.
* Commodity markets finished Monday with mixed results as worries brought on by
political wrangling over the U.S. debt drove investors to gold as a safe haven,
but kept pressure on oil prices for fear of the potential impact on economic
growth.
RELATED NEWS
> PREVIEW-Malaysian palm oil stocks seen at 6-mth high in Sept
> CME Group to allow talks before some grain options trades
> POLL-Trade estimates October world grain end stocks
> USDA says no crop reports this week due to federal shutdown
DATA/EVENTS
> Industry regulator the Malaysian Palm Oil Board (MPOB) will release data on
Malaysia's end-September stocks, exports and production on Oct. 10.
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
will release Malaysia's Oct. 1-10 palm oil export data on Oct. 10.
Key commodity markets at 0017 GMT
Contract Month Last Change Low High Volume
RINGGIT/USD 3.185 -0.00 3.188 3.1855
CHINA PALM OLEIN JAN4 0 +0.00 0 0 0
CHINA SOYOIL JAN4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.00 +0.10 39.91 40.00 246
NYMEX CRUDE NOV3 103.12 +0.09 103.06 103.21 720
CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
- Reuters
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