KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday September 25.
FUNDAMENTALS
* Malaysian palm oil futures jumped on Wednesday to their highest in two-and-a-half months,
bolstered by a weak ringgit and on worries over potential dry weather curbing crop output.
* U.S. wheat futures fell 2 percent from a one-month top on Thursday on a round of profit
taking, with plentiful global supplies allaying concerns about adverse crop weather in Australia
and the Black Sea region, traders said.
* Oil prices rose as much as 1 percent on Thursday, boosted by inventory draws at the U.S. crude
futures' delivery hub although gains were capped by tumbling equity prices on Wall Street.
MARKET NEWS
* Asian shares edged up on Friday, while the dollar rose and U.S. interest rate futures price
briefly dropped after Federal Reserve Chair Janet Yellen suggested the central bank is still on
track to raise interest rates later this year.
RELATED
> China importers in deals to buy 13.18 mln tonnes US soybeans
> Nidera says suffers significant loss from biofuels fraud
> Australia wheat production seen avoiding widespread frost damage
DATA/EVENTS
> Cargo surveyor SGS releases Malaysia's May 1-25 palm oil export data on September 25.
Palm, soy and crude oil prices at 0026 GMT
Contract Month Last Change Low High Volume
MY PALM OIL OCT5 0 +0.00 0 0 0
MY PALM OIL NOV5 0 +0.00 0 0 0
MY PALM OIL DEC5 0 +0.00 0 0 0
CHINA PALM OLEIN JAN6 4480 +112.00 4380 4528 1143466
CHINA SOYOIL JAN6 5376 +64.00 5304 5414 474584
CBOT SOY OIL DEC5 27.22 +3.90 27.18 27.22 1156
INDIA PALM OIL SEP5 411.70 +3.90 407.10 412.20 1251
INDIA SOYOIL OCT5 585.70 +10.15 574.20 587.30 79900
NYMEX CRUDE NOV5 44.93 +0.02 44.86 45.08 1696
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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