Palm oil/Vegoils: Market factors to watch on Friday


KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
    
FUNDAMENTALS
* Malaysian palm oil futures slipped to their lowest in more than a week on
Thursday, reversing gains in the morning session after crude prices dropped to a
27-month low and the ringgit climbed higher, curbing appetite for the tropical
oil. 
* U.S. wheat futures set a two-week high on Thursday, rebounding from last
week's four-year lows on larger-than-expected weekly export sales data, traders
said. 
* Global oil prices deepened a three-month rout on Thursday to hit their lowest
since mid-2012, fuelled by growing concerns over weak demand, abundant supply
and signs that Saudi Arabia is in no hurry to cut output. 
    
MARKET NEWS
* Stocks worldwide were lower on Thursday after European Central Bank President
Mario Draghi failed to provide nervous markets with a specific stimulus program
for the euro zone's shaky recovery, while U.S. markets steadied after a recent
sell-off. 
    
RELATED 
> Thai feed millers buy 110,000 T of soymeal for Feb-April shipment
 
> ICE aims to launch global cotton contract early next year      
> U.S. governors push for increase in final biofuel mandate      
> Ghana lifts farmers' cocoa price in bid to deter smuggling     
> Iran buys about 400,000 tonnes wheat from EU - trade           
> Brazil's Datagro cuts cane crop estimate                       
    
DATA/EVENTS 
> Malaysian financial markets closed on Monday, Oct. 6 for a public holiday. 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's October 1-10 palm oil exports on Oct. 10.
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-September palm oil stocks, exports and production on Oct. 10. 
    
  Palm, soy and crude oil prices at 0019 GMT
                                                                              
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      OCT4       0    +0.00       0       0       0
  MY PALM OIL      NOV4       0    +0.00       0       0       0
  MY PALM OIL      DEC4       0    +0.00       0       0       0
  CHINA PALM OLEIN JAN5       0    +0.00       0       0       0
  CHINA SOYOIL     JAN5    5898   +62.00    5890    5958  313544
  CBOT SOY OIL     DEC4   32.82    +0.40   32.69   32.84     613
  INDIA PALM OIL   OCT4  465.00    +0.40  460.90  465.50    1410
                                    #VALUE!
  NYMEX CRUDE      NOV4   91.22    +0.21   91.05   91.38    2968
                                                                              
  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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