Malaysia palm oil/Vegoils: Market factors to watch Nov 18 Tuesday

Malaysia palm oil/Vegoils: Market factors to watch Nov 18 Tuesday

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 edged up on Monday to snap a three-day losing
streak, although lacklustre export demand and investor uncertainty about
November crude palm oil output in the world’s biggest growers capped the gain.

* U.S. soybeans jumped 1 percent on Monday, rebounding from an earlier one-week
low after government and private reports showed larger-than-expected demand from
exporters and crushers.
* Oil pared early losses on Monday after Russia and Venezuela appeared to be
coordinating on a price defense plan, but Brent and U.S. crude still ended lower
on worries over Japan’s recession. 

MARKET NEWS
* Oil prices fell and global equity markets were mixed on Monday after news that
Japan unexpectedly slipped into recession in the third quarter renewed concerns
about world growth. 

RELATED
> Malaysia’s Nov 1-15 palm oil exports fell 2.5 pct -SGS
> Malaysia’s Nov 1 – 15 palm oil exports fall 4.5 pct -ITS
> Russian wheat prices rise slightly on weak rouble, limited sales

> Armyworm resistance to GMO crops seen in U.S. -study
> U.S. importer buys about 25,000 T German rapeseed meal – traders   

> EU wheat lower with Chicago as rally stalls
> Russian wheat prices rise slightly on weak rouble, limited sales   

DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia’s Nov. 1-20 palm oil exports on Nov. 20. 

  Palm, soy and crude oil prices at 0028 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    5362   +14.00    5338    5366  314300
  CHINA SOYOIL     MAY5       0    +0.00       0       0       0
  CBOT SOY OIL     DEC4   32.45    -0.60    0.00    0.00       0
  INDIA PALM OIL   NOV4  449.20    -0.60  444.50  449.30     524

  NYMEX CRUDE      DEC4   75.43    -0.21   75.37   75.64     729

  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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