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VEGOILS-Malaysian palm futures track Dalian higher, hit 6-month high
September 14, 2017 / 5:28 AM / 8 days ago

VEGOILS-Malaysian palm futures track Dalian higher, hit 6-month high

    * Palm continues higher, up 0.3 pct at midday
    * Climbing Dalian palm olein lifts palm prices - trader
    * Some eyeing analyst price outlook at Globoil India -
trader

    By Liz Lee
    KUALA LUMPUR, Sept 14 (Reuters) - Malaysian palm oil futures
rose on Thursday, touching a six- month high, as they tracked a
rally in Dalian's palm olein contract higher although market
stayed cautious ahead of price outlook.
    The benchmark palm oil contract for November delivery
 on the Bursa Malaysia Derivatives Exchange was up 0.3
percent at 2,882 ringgit ($686.35) by the midday break. Earlier
in the session, it hit 2,893 ringgit, its highest since March 6.
    Trading volumes stood at 20,154 lots of 25 tonnes each,
slightly below the previous session's midday level. 
    A Kuala Lumpur-based futures trader said palm will likely
continue to be supported by ongoing strength in Dalian palm
olein futures. Dalian Commodity Exchange's January palm olein
 climbed as much as 1.5 percent, promising a fourth
straight session of gains.
    "But there will be a price outlook presentation by a key
industry analyst at Globoil India later in the day," the trader
said, predicting caution in trading just before that
presentation at the three-day Globoil India conference, which
started on Wednesday.    
    In other related oils, the Chicago Board of Trade (CBOT)
soybean oil contract rose as much as 0.4 percent.
    The January soybean oil contract on the Dalian Commodity
Exchange climbed 0.5 percent.

  Palm, soy and crude oil prices at 0455 GMT
 Contract                     Month      Last    Change         Low       High       Volume
 MY PALM OIL               SEP7             0     +0.00           0          0            0
 MY PALM OIL               OCT7          2896     +2.00        2890       2910          309
 MY PALM OIL               NOV7          2882     +9.00        2872       2893         8327
 CHINA PALM OLEIN          JAN8          5802    +86.00        5706       5818       578914
 CHINA SOYOIL              JAN8          6408    +30.00        6342       6418       369764
 CBOT SOY OIL              DEC7         35.25     +0.16        35.1      35.32         3388
 INDIA PALM OIL            SEP7        550.50     +3.40      548.00      551.5          218
 INDIA SOYOIL              SEP7           667     +1.75         667        667          220
 NYMEX CRUDE               OCT7         49.22     -0.08       49.18      49.33        14870
 
 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 = 4.1990 ringgit)
($1 = 64.08 Indian rupees)
($1 = 6.54 Chinese yuan)  
    
    

 (Reporting by Liz Lee; Editing by Kenneth Maxwell)
  
 
 

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