KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures slipped to their lowest in over a week on Monday as
gains in the local currency made the ringgit-denominated commodity more
expensive for overseas buyers and refiners.
* Chicago Board of Trade corn futures fell on Monday for a second straight
session on lackluster export demand and plentiful U.S. supplies as a
record-large harvest wound down, traders said.
* Crude prices ended lower, with Brent below $80 a barrel, after a volatile
session on Monday as Russia's offer to add to OPEC output cuts led some to bet
the group will agree on a higher production cut than thought when it meets this
week.
MARKET NEWS
* World equities markets climbed on Monday, boosted by deal activity in Europe
and ongoing expectations for more stimulus from the world's major central
banks.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Nov. 1-25 palm oil exports on Nov 25.
Palm, soy and crude oil prices at 0013 GMT
Contract Month Last Change Low High Volume
MY PALM OIL DEC4 0 +0.00 0 0 0
MY PALM OIL JAN5 0 +0.00 0 0 0
MY PALM OIL FEB5 0 +0.00 0 0 0
CHINA PALM OLEIN MAY5 5308 -36.00 5286 5322 377364
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 33.38 -4.30 0.00 0.00 0
INDIA PALM OIL NOV4 446.70 -4.30 446.50 451.80 404
NYMEX CRUDE JAN5 75.65 -0.13 75.47 75.76 963
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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