Palm oil/Vegoils: Market factors to watch Nov 10 Monday


  • Business
  • Monday, 10 Nov 2014

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.


FUNDAMENTALS

 * Malaysian palm oil futures fell for a fourth consecutive session on Friday as traders squared positions ahead of anticipated bearish stocks and export data due out on Monday.

* Chicago Board of Trade wheat futures dropped for the fourth day in a row on Friday as U.S. exporters struggled to compete in an export market laden with supplies from around the globe, traders said.

 * U.S. crude climbed less than a dollar on Friday but finished down more than 2 percent for the week, marking the first time the benchmark has fallen for six straight weeks since December 1998. The Friday rally was driven in part by geopolitical tremors in Ukraine and the dollar backing off of its four-year high.

MARKET NEWS

 * The dollar slipped and global equity markets were little changed on Friday after the U.S. jobs report for October trailed expectations even while showing solid growth, taking the edge off a months-long rally in both the greenback and stocks.

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DATA/EVENTS
 > Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance released data on Malaysia's Nov. 1-10 palm oil exports on Nov. 10.

 > Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on Malaysia's end-October palm oil stocks, exports and production on Nov. 10.

- Reuters
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