Malaysian palm oil/Vegoils: Market factors to watch Wednesday Jan 3
03/01/2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 3.
FUNDAMENTALS
* Malaysian palm oil futures rose more than 1 percent on Tuesday evening, tracking related edible oils and supported by improving export demand.
* U.S. wheat futures rallied 1.7 percent to their highest in nearly four weeks on Tuesday on concerns about sub-zero temperatures damaging the dormant crop in crucial growing areas of the United States, traders said.
* Oil prices hit mid-2015 highs in early trading on Tuesday but dipped to settle slightly lower as major pipelines in Libya and the UK restarted and U.S production soared to the highest level in more than four decades.
MARKET NEWS
* Asian stocks struck a fresh decade high on Wednesday as risk appetites were whetted by a bevy of upbeat manufacturing surveys that confirmed a synchronised upturn in world growth was well
under way.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on Jan 10. - Reuters