HAMBURG, Dec 1 (Reuters) - Palm oil prices are vulnerable to a price fall in coming weeks but any setback would be limited by a seasonal production fall which could again reduce current large stocks, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"We see the potential for a setback in palm oil prices within the next four weeks," Oil World said. "Following the recent noticeable appreciation, we consider palm oil prices to be overvalued and vulnerable to a temporary setback."
Wednesday, December 2, 2009
Breaking News-RTRS-Soybean price could fall on fund sales- Oil World
HAMBURG, Dec 1 (Reuters) - Soybean prices could fall in the coming weeks despite high U.S. exports if investment funds take profits after recent price rises, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
"Futures prices of soybeans are vulnerable to a setback in the near term," it said. "After the pronounced strength during the past three to four weeks, soybean prices may decline if funds liquidate some of their long positions and lock in profits."
"Futures prices of soybeans are vulnerable to a setback in the near term," it said. "After the pronounced strength during the past three to four weeks, soybean prices may decline if funds liquidate some of their long positions and lock in profits."
Trader's Highlight
DJI-NEW YORK, Dec 1 (Reuters) - The Dow Jones industrial average climbed to its highest close in 14 months on Tuesday as a weak dollar boosted natural resource companies' shares and economic data reinforced hopes for a sustainable recovery.
The Dow Jones industrial average <.DJI> shot up 126.74 points, or 1.23 percent, to end at 10,471.58. The Standard & Poor's 500 Index <.SPX> rose 13.23 points, or 1.21 percent, to 1,108.86. The Nasdaq Composite Index <.IXIC> advanced 31.21 points, or 1.46 percent, to close at 2,175.81.
NYMEX-NEW YORK, Dec 1 (Reuters) - U.S. crude futures pared gains in post-settlement trading on Tuesday after industry data showed that domestic crude stocks rose much more than expected last week.
The U.S. Energy Information Administration will issue its own data on Wednesday, at 10:30 a.m. EST (1530 GMT).
On the New York Mercantile Exchange at 5 p.m. EST (2200 GMT), January crude was up 55 cents, or 0.71 percent, at $77.83 a barrel. It earlier settled up $1.09, or 1.41 percent, at $78.37, trading from $77.01 to $79.04.
CBOT-SOYBEANS - January down 1 cent at $10.59-1/2 a bushel. Pressured late by profit-taking after expected big fund buying didn't show up during early day gains to three-month high.
CBOT-SOYOIL - December up 0.39 cent at 40.58 cents per lb, January up 0.34 at 40.92. Support from strong crude oil market.
FCPO-KUALA LUMPUR, Dec 1 (Reuters) - Malaysian crude palm oil futures ended 0.9 percent higher on Tuesday on investors taking up positions ahead of a price outlook conference this week for the vegetable oil.
The benchmark February contract on the Bursa Malaysia Derivatives Exchange settled up 23 ringgit at 2,495 ringgit ($737.1) after spending much of the session in negative territory.
The three-day Indonesian Palm Oil Conference and Price Outlook 2010 at the resort island of Bali will start on Wednesday and feature analysts Dorab Mistry, Thomas Mielke and James Fry, who will give their views on the industry for next year.
REGIONAL EQUITIES-BANGKOK, Dec 1 (Reuters) - Southeast Asian stock markets ended higher on Tuesday, with Thai stocks <.SETI> leading the gains, cheered by news there would be an early court ruling in a case involving the country's biggest industrial estate.
Analysts said easing concerns over Dubai's debt woes helped sentiment across the region, together with a comment from the International Monetary Fund's Asia-Pacific representative about Asian banks' limited exposure.
Singapore's stock index <.FTSTI> rose 1.42 percent, recovering from a fall to a two-week low a day earlier, while Malaysia's market <.KLSE> rose 0.6 percent, snapping a three-day losing streak, and Indonesia <.JKSE> gained 1.52 percent.
The Dow Jones industrial average <.DJI> shot up 126.74 points, or 1.23 percent, to end at 10,471.58. The Standard & Poor's 500 Index <.SPX> rose 13.23 points, or 1.21 percent, to 1,108.86. The Nasdaq Composite Index <.IXIC> advanced 31.21 points, or 1.46 percent, to close at 2,175.81.
NYMEX-NEW YORK, Dec 1 (Reuters) - U.S. crude futures pared gains in post-settlement trading on Tuesday after industry data showed that domestic crude stocks rose much more than expected last week.
The U.S. Energy Information Administration will issue its own data on Wednesday, at 10:30 a.m. EST (1530 GMT).
On the New York Mercantile Exchange at 5 p.m. EST (2200 GMT), January crude
CBOT-SOYBEANS - January
CBOT-SOYOIL - December
FCPO-KUALA LUMPUR, Dec 1 (Reuters) - Malaysian crude palm oil futures ended 0.9 percent higher on Tuesday on investors taking up positions ahead of a price outlook conference this week for the vegetable oil.
The benchmark February contract
The three-day Indonesian Palm Oil Conference and Price Outlook 2010 at the resort island of Bali will start on Wednesday and feature analysts Dorab Mistry, Thomas Mielke and James Fry, who will give their views on the industry for next year.
REGIONAL EQUITIES-BANGKOK, Dec 1 (Reuters) - Southeast Asian stock markets ended higher on Tuesday, with Thai stocks <.SETI> leading the gains, cheered by news there would be an early court ruling in a case involving the country's biggest industrial estate.
Analysts said easing concerns over Dubai's debt woes helped sentiment across the region, together with a comment from the International Monetary Fund's Asia-Pacific representative about Asian banks' limited exposure.
Singapore's stock index <.FTSTI> rose 1.42 percent, recovering from a fall to a two-week low a day earlier, while Malaysia's market <.KLSE> rose 0.6 percent, snapping a three-day losing streak, and Indonesia <.JKSE> gained 1.52 percent.
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