Malaysian palm oil/Vegoils: Market factors to watch Friday Nov 13

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday November 13.

    
FUNDAMENTALS
* Malaysian palm oil futures rose slightly on Thursday as industry data showing declining
production lent support. The January benchmark palm oil contract on the Bursa Malaysia
Derivatives Exchange had gained 0.1 percent to 2,333 ringgit ($535.09) a tonne by the end of the
trading day.
* U.S. wheat futures firmed on Thursday on technical buying including short-covering, but
advances were modest as export sentiment remained gloomy. Soybean futures also rose while corn
closed narrowly mixed.
* Oil prices tumbled almost 4 percent on Thursday, accelerating a slump that threatens to test
new six-and-a-half year lows, with traders unnerved by a persistent rise in U.S. stockpiles and
a downbeat forecast for next year.
   
MARKET NEWS
* Global equity markets fell on Thursday, pulled lower by declining commodity prices that hurt
energy shares, and comments by a Federal Reserve policymaker who hinted that a
widely-anticipated interest rate hike next month is possible.  
       
RELATED
> Indonesia's action on haze won't stop burning -palm farmers group
> POLL-NOPA October soy crush seen at 161.002 mln bushels-poll    
> London cocoa hits 4-1/2-year peak; sugar returns higher          
> South Africa, U.S. close to meat trade resolution - Pretoria    
> Iran stops wheat imports, plans to export durum wheat by March  
 
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on November 15.

  Palm, soy and crude oil prices at 0017 GMT
                                                                 
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      NOV5       0    +0.00       0       0       0
  MY PALM OIL      DEC5       0    +0.00       0       0       0
  MY PALM OIL      JAN6       0    +0.00       0       0       0
  CHINA PALM OLEIN JAN6    4380   +24.00    4374    4406  413850
  CHINA SOYOIL     JAN6    5612   +36.00    5592    5634  313896
  CBOT SOY OIL     DEC5   28.50    +5.10    0.00    0.00       0
  INDIA PALM OIL   NOV5  405.50    +5.10  402.50  408.30    3073
  INDIA SOYOIL     NOV5  628.40    +1.25  625.80  630.50   34160
  NYMEX CRUDE      DEC5   46.46    +0.14   46.36   46.63    1090
                                                                 
  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
    - Reuters