VEGOILS-Market factors to watch Nov 2
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS * Malaysian palm oil futures hit their lowest in more than three years on Thursday, edging down at the end of the trading day for a third straight session of losses, tracking weakness in related edible oils. * U.S. soybean prices edged lower for the first time in four sessions on Friday, though the oilseed was on course to report its biggest weekly gain in more than five months on hopes that the United States and China would settle a trade war. * Oil prices dipped on Friday as record crude output by the world's top-three producers offset supply concerns from the start of U.S. sanctions next week against Iran's petroleum exports.
MARKET NEWS * World equity markets began November with a broad rally on Thursday after a brutal October, boosted by strong corporate earnings and signs that a trade war between economic giants, China and the United States, could be contained.
RELATED > INTL FCStone lowers U.S. 2018 corn and soy yield estimates > Brazil's 2018/19 soybean crop seen at 120.19 mln T - INTL FCStone > U.S. soybean cargo heading to China switches destination amid trade row > Trump’s trade war looms over divided U.S. farm belt ahead of vote
DATA/EVENTS > Cargo surveyor AmSpec releases Malaysia's Nov 1-10 palm oil export data on Nov 10. > Cargo surveyor SGS releases Malaysia's Nov 1-10 palm oil export data on Nov 10.
* For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type.
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11.
Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- CBOT soybean futures -- Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- Dalian refined palm oil futures -- Zhengzhou rapeseed oil -- European edible oil prices/trades -- (Reporting by KL newsroom)
