Malaysian palm oil/Vegoils: Market factors to watch Nov 12 Wed


  • Business
  • Wednesday, 12 Nov 2014

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
    
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday after the ringgit slumped to a
four-year low and on expectations of a drop in output of the commodity in the
No.2 producer this month, traders said. 
* U.S. soybean futures surged nearly 4 percent on Tuesday on strength in the
cash market as slow country movement and heavy export commitments left soy
processors scrambling for supplies, despite a record U.S. harvest. 
* Benchmark Brent crude closed down on Tuesday after setting a four-year low and
coming close to testing the psychologically important $80 a barrel support, as
traders continued to seek a bottom to a selloff that began in June. 
    
MARKET NEWS
* U.S. stock prices held steady on Tuesday after the Dow and Standard & Poor's
500 hit record intraday highs for a fifth straight session, while the dollar
rose against the yen on the prospect of a delay in a planned sales tax hike in
Japan. 
    
RELATED  
> Weak palm processing business pegs back Wilmar Q3 net profit growth 
 
> Indonesia's 2015 palm output growth to slow after drought -industry
 
> Brazil government forecasts 89.3-91.7 mln tonne soy crop    
> GMO battles over 'settled' science spur new study of crops  
> EU wheat prices rise on strong export outlook               
> U.S. Midwest cold spell to hinder wheat growth -meteorologist    
 
> German rapeseed sowings for 2015 crop down 5.2 pct on year  
           
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Nov. 1-15 palm oil exports on Nov. 17. 
    
    
  Palm, soy and crude oil prices at 0032 GMT
                                                                     
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      NOV4       0    +0.00       0       0       0
  MY PALM OIL      DEC4       0    +0.00       0       0       0
  MY PALM OIL      JAN5       0    +0.00       0       0       0
  CHINA PALM OLEIN MAY5    5440   +66.00    5380    5444  581342
  CHINA SOYOIL     MAY5       0    +0.00       0       0       0
  CBOT SOY OIL     DEC4   32.87    +2.20    0.00    0.00       0
  INDIA PALM OIL   NOV4  450.70    +2.20  444.20  451.00    1034
                                   
  NYMEX CRUDE      DEC4   77.45    -0.49   77.41   77.60     494
                                                                     
  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
Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

FDI slips to lowest since 2009 due to pandemic
Vehicle sales in May doubled on-year but minimal sales seen in June
Malaysia's Carsome weighs US listing with SPAC as option
Pound tumbles as virus resurgence clouds hope for UK recovery
China advises US on inflation: Remove punitive tariffs
Crude oil extends slump as traders weigh dollar against demand
National Budget Office: Safer to open economy in stages
MIDF Amanah AM launches ESG Mustadamah fund
FGV to appoint independent auditor for forced labour assessment in August
Employers: More clarity on details of NRP crucial

Stories You'll Enjoy


Vouchers