Malaysian palm oil/Vegoils: Market factors to watch Monday Nov 13
The Star Online (13/11/2017) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Nov 13.
FUNDAMENTALS
* Malaysian palm oil futures fell on Friday for a second straight session, weighed down by a stronger ringgit and weaker soyoil prices.
* U.S. corn and soy futures firmed on Friday in a light technical bounce one day after the U.S. Department of Agriculture released larger-than-expected yield estimates for both crops.
* Crude was down slightly on Friday as expectations that OPEC and other producers will extend their production cut agreement were offset by U.S. drillers adding the most oil rigs in a week
since June, indicating output will continue to grow.
MARKET NEWS
* Global stock indexes and the U.S. dollar cooled off Friday as signs that U.S. tax reform could be delayed impeded the market's momentum.
RELATED
Major Chinese soybean crusher halts operations at two plants -sources
Malaysia's Nov 1-10 palm oil exports fell 4.8 pct -SGS
Malaysia's end-Oct palm stocks rise as output crosses 2 mil T mark
Malaysia's Nov 1 - 10 palm oil exports fall 2.5 pct -ITS
Freeport Indonesia shuts main supply route to mine after shooting
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Nov 1-10 palm oil export data on Nov 10.
Cargo surveyor SGS releases Malaysia's Nov 1-10 palm oil export data on Nov 10.
- Reuters