SINGAPORE, Nov 1 (Reuters) - The following factors are likely
to influence Malaysian palm oil futures on Thursday.
-- Oil <CLc1> hit a record high at close to $96 a barrel on
Thursday on an unexpectedly sharp fall in U.S. crude inventories
that raised concerns over a supply shortfall in the upcoming
northern hemisphere winter. [ID:nSYD170956]
-- Chicago Board of Trade soyoil ended up 0.35 cents to 1.02
cents per lb on Wednesday, with December <BOZ7> up 0.63 at 42.31
cents to track rallies in crude oil.December rallied to a new
contract high of 42.69 cents per lb -- also the highest price for
a spot contract in nearly 33 years.
-- The ringgit dipped to 3.3300 per dollar.
-- India's decision to stop the import of palmoil at a
southern port, following lobbying by the rival coconut trade, has
helped stabilise coconut prices and bring the two oils to price
parity.India buys palmoil mainly from Malaysia and Indonesia.
[ID:nDEL96420]
-- The benchmark January contract <KPOF8> on the Bursa
Malaysia Derivatives Exchange settled up 18 ringgit, or 0.6
percent, at 2,880 ringgit per tonne on Wednesday, after going as
low as 2,814 ringgit.
The contract struck a record high at 2,920 ringgit on Monday.
Exports of Malaysian palm oil products in October fell 4.6
percent to 1,318,306 tonnes from 1,381,712 tonnes shipped in
September, cargo surveyor Intertek Testing Services said.
Another surveyor, Societe Generale de Surveillance said
exports for the same period fell 7.9 percent to 1,303,362 tonnes.
-- A "La Nina" cooling of sea temperatures is underway in the
Pacific Ocean and the phenomenon is likely to persist into next
year, the United Nations weather agency said on Wednesday.
[ID:nL31678186]
((Reporting by Lewa Pardomuan, editing by Valerie Lee; Reuters
Messaging:[email protected]; +65 6870 3834))
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Vegetable oils -- <OILS/ASIA1><0#OILS-AS>
Malaysian palm oil -- <OILS/MY01><0#PALMOIL-AS>
Malaysian palm kernel oil -- <OILS/ASIA1><0#PALKOIL-AS>
Malaysian palm oil exports -- <SGSPALM1>
CBOT soyoil futures -- <0#BO:>
CBOT soybean futures -- <0#S:>
Indian oilseeds -- <INOIL>
Indian solvent -- <SOLVENT01>
Daily Indian soybean/meal report -- [SOYP/IN]
Daily Indian soyoil report -- [OILSP/IN]
Weekly Indian vegetable oils -- [OILS/IN]
Dalian Commodity Exchange -- <DC/MENU> <0#DBY:>
Zhengzhou rapeseed oil -- <0#CRO:>
Kuala Lumpur palm oil futures -- <0#KPO:>
Euro edible oil prices/trades -- [OILS/E]
Keywords: MALAYSIA PALM/PREOPENER
Keywords: MALAYSIA PALM/PREOPENER