Palm/Vegoils: Market factors to watch Dec 1 Monday

Palm/Vegoils: Market factors to watch Dec 1 Monday

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.

* Malaysian palm oil futures fell to their lowest in more than five weeks on Friday and recorded their biggest weekly drop in three, dragged down by steeplosses in crude oil after OPEC decided against curbing output. 

* U.S. wheat futures climbed to their highest in nearly five months on Friday, supported by news that Russia, a major global wheat supplier, was tightening itsgrain export rules, traders said.GRA/]

* U.S. crude fell more than $2 to a five-year low in Asian trade on Monday, while Brent futures touched a fresh four-year low, extending a steep sell-off after OPEC decided not to cut production last week, keeping markets well supplied.      

* Gold prices fell the most in more than three weeks and the Swiss franc dipped slightly on Monday after Swiss voters overwhelmingly rejected proposals to boost gold reserves in a referendum.     

> Canada extends but lightens railway grain shipment requirements 

> Paraguay native tribes crowded out by ranching, soy planting boom-U.N.

> 01:04:01   RTRS – Argentina says recent rains help soy/corn planting,


> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia’s November palm oil exports on Dec. 1.

Palm, soy and crude oil prices at 0044 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 OILFEB5      0  +0.00      0      0      0
CHINA PALM OLEINMAY5   5094 -158.00   5060   5218 827740
CHINA SOYOIL  MAY5      0   +0.00      0      0      0
CBOT SOY OIL  JAN5  32.29   -6.10   0.00    0.00      0
INDIA PALM OILDEC4 439.90   -6.10 437.60 445.50   2233
INDIA SOYOIL  DEC4 577.70   -2.85 576.00 580.80  49215
NYMEX CRUDE    JAN5  64.43   -1.72  64.10  66.18  30468

  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
   – Reuetrs

Source : The Star

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