KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures rose on Wednesday, rebounding from near one-week
lows hit in the previous session, as data showing a rise in palm oil exports in
early December helped reinforce some optimism about the outlook for demand.
* U.S. soybeans fell more than 1 percent on Wednesday, reversing a one-month
high in a profit-taking sell-off following a U.S. Department of Agriculture
report that showed smaller-than-expected ending stocks of beans.
* Oil prices tumbled as much as 5 percent on Wednesday, pushing U.S. crude to
five-year lows near $60 a barrel after data showed a spike in U.S. inventories
and Saudi Arabia's oil minister reiterated that he has no plans to cut output.
MARKET NEWS
* Oil prices slumped to five-year lows on Wednesday and U.S. and European equity
markets fell as investors, worried about the Greek and Chinese economies,
withdrew from riskier positions and bought the Japanese yen, which rose against
the U.S. dollar.
RELATED
> Indonesia, Malaysia seen keeping crude palm exports duty-free in Jan
> Indonesia Nov palm oil output seen dropping 3 pct -Reuters survey
> Malaysia end-Nov palm stocks hit 21-mth high; investors hope output will ease
> Brazil 2014/15 soy crop seen at record 95.8 mln T - govt
> Malaysia's Dec 1-10 palm oil exports rise 1.7 pct -ITS
> Japan weather bureau declares first El Nino in five years
> USDA cuts U.S. corn, soy stocks view on demand hikes
> Bad weather hit Turkey's agricultural output, Q3 growth - Babacan
DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's Dec. 1-15 palm oil exports on Dec. 15.
Palm, soy and crude oil prices at 0011 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 5006 -30.00 4990 5078 692282
CHINA SOYOIL MAY5 0 +0.00 0 0 0
CBOT SOY OIL JAN5 31.77 -2.80 0.00 0.00 0
INDIA PALM OIL DEC4 419.30 -2.80 418.40 426.40 1903
INDIA SOYOIL DEC4 580.60 -1.40 577.00 583.50 24075
NYMEX CRUDE JAN5 61.23 +0.29 61.01 61.38 1313
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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