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.
FUNDAMENTALS
* 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.
MARKET NEWS
* 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.
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development
DATA/EVENTS
> 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 OIL | FEB5 | 0 | +0.00 | 0 | 0 | 0 |
| CHINA PALM OLEIN | MAY5 | 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 OIL | DEC4 | 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
