12:10, 01.09.2015 — Новости
автор: OilWorld.Ru

Palm up for third day, tracks external markets


Prices up 1.16 percent by midday break

* For technical analyses, click Malaysian palm oil futures rose for a third day in strong trading on Tuesday after a jump in crude oil prices overnight and gains in competing vegetable oil

markets, while recent data showing weaker exports and a stronger

ringgit had little impact.

By the midday break, the benchmark November palm oil

contract on the Bursa Malaysia Derivatives exchange

was up 1.16 percent at 2,014 ringgit ($485.07) after trading in

a range between 1,973 and 2,019 ringgit.

Total traded volume on Tuesday was high, at 23,272 lots of

25 tonnes each, compared to the usual 13,500 lots by midday.

"Palm is up purely on the back of external market factors,"

a trader with a foreign commodities brokerage in Malaysia told

Reuters, referring to the 8 percent gains in crude oil prices

overnight and increases in the vegetable oil contracts on

China's Dalian Commodity Exchange.

"It's pretty strong," the trader said, adding that Tuesday's

more than 1 percent rise in the Malaysian ringgit,

which benchmark palm is priced in, was having no impact on palm

oil prices.

"I think it has no bearing," the trader said, adding that

recent export data was also having little or no impact.

The currency was up 1.002 percent at 4.15 per dollar by 0510

GMT, stretching its gaining streak into a third session. The

ringgit has been Emerging Asia's worst performing currency,

losing nearly 17 percent so far this year, on weakness in global

currencies and domestic political woes.

Exports of Malaysian palm oil products for August fell 1.2

percent to 1,525,389 tonnes from 1,543,868 tonnes shipped during

July, cargo surveyor Intertek Testing Services said on Monday.

Wang Tao, a Reuters market analyst of commodities and energy

technicals, said palm oil may fall to 1,936 ringgit per tonne,

as it has failed to break a resistance at 1,981 ringgit.

In competing vegetable oil markets, the most active January

soybean oil contract on the Dalian Commodity Exchange

was up 0.37 percent, while Dalian palmoil for January

was up 1.12 percent. The U.S. December soyoil contract

was down 0.74 percent in early Asian trade.

Oil prices fell nearly 3 percent in Asian trade on Tuesday,

with investors covering short positions and taking profits after

Brent and U.S. crude soared more than 8 percent in the previous

session.

Palm, soy and crude oil prices at 0545 GMT

Contract Month Last Change Low High Volume

MY PALM OIL SEP5 1915 -13.00 1915 1915 2

MY PALM OIL OCT5 1975 +23.00 1936 1978 1129

MY PALM OIL NOV5 2014 +23.00 1973 2019 13405

CHINA PALM OLEIN JAN6 4322 +48.00 4232 4360 678090

CHINA SOYOIL JAN6 5404 +16.00 5344 5440 496396

CBOT SOY OIL DEC5 28.02 +4.90 27.80 28.18 4721

INDIA PALM OIL SEP5 380.60 +4.90 377.40 382.00 568

INDIA SOYOIL OCT5 578.50 +4.35 575.80 579.20 25540

NYMEX CRUDE OCT5 47.85 -1.35 47.23 48.19 30838

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

($1 = 6.3672 Chinese yuan)

($1 = 66.3250 Indian rupees)

($1 = 4.1520 ringgit)

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