Palm oil/Vegoil - Market factors to watch Nov 18 (Monday)

by **Cals** Mon 18 Nov 2013, 08:58

Published: Monday November 18, 2013 MYT 8:03:00 AM
Updated: Monday November 18, 2013 MYT 8:05:57 AM
Palm oil/Vegoil - Market factors to watch Nov 18 (Monday)

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

FUNDAMENTALS
* Malaysian palm oil rose Friday, gaining for five out of six weeks as data from
India and Malaysia showed improving demand, while a possible shortage of
competing edible oil from the Philippines lifted prices of palm-based
substitutes.
* U.S. soybean futures fell 2.5 percent on Friday to a one-week low, with
traders citing softening cash markets, favorable crop weather in South America
and profit-taking after Thursday's six-week high.
* Oil rose slightly on Friday in choppy trade as markets weighed Libyan supply
outages and supportive comments from the Fed chair nominee against reports that
a deal with Iran may be near on its nuclear program.


MARKET NEWS
* Asian share markets were consolidating recent gains on Monday, with investors
encouraged both by the prospect of extended stimulus in the United States and
real economic reform in China.
* Coffee had its biggest gain in more than two years in London, reflecting bad
harvesting weather for Vietnam's robusta crop, while cocoa rallied in New York
as the "softs" markets dominated Friday's action in commodities.


RELATED NEWS
> India's Oct palm oil imports up 21 pct m/m- trade body
> China to stockpile domestic corn, soy to aid prices -NDRC
> Malaysia's Nov 1-15 palm oil exports fell 8.2 pct -SGS
> Malaysia raises crude palm oil export tax for Dec to 5.0 pct
> Malaysia's Nov 1-15 palm exports down 4.6 pct - ITS
> US soy tumbles, corn drops on EPA biofuel plan
> In win for Big Oil, U.S. proposes biofuel mandate cut
> China move to buy local soybeans, corn for reserves to lift
> US soy crush jumps in October, oilstocks to 8-yr low-NOPA

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

Key commodity markets at 2333 GMT

Contract Month Last Change Low High Volume
RINGGIT/USD 3.203 -0.00 0 0
CHINA PALM OLEIN MAY4 0 +0.00 0 0 0
CHINA SOYOIL MAY4 0 +0.00 0 0 0
CBOT SOYOIL DEC3 40.51 +0.04 0.00 0.00 0
NYMEX CRUDE DEC3 93.74 -0.10 93.67 93.84 489

CBOT soy oil in U.S. cents per pound
Dalian soy oil in Chinese yuan per tonne
Crude in U.S. dollars per barrel
- Reuters