Malaysian palm oil/Vegoils: Market factors to watch Thursday Jan 4
04/01/2018 (The Star Online) - KUALA LUPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 4.
FUNDAMENTALS
* Malaysian palm oil futures surged nearly 3 percent to their highest in a month on Wednesday on expectations for strengthening demand in coming weeks.
* U.S. wheat futures rose on Wednesday, led by gains in the K.C. hard red winter wheat contracts, on concerns about crop damage in key American growing regions resulting from cold weather and sparse snow cover, traders said.
* Oil prices rose about 2 percent on Wednesday to the highest in 2-1/2 years, with buying spurred by a sixth day of unrest in OPEC member Iran and strong economic data from the United States and Germany.
MARKET NEWS
* The U.S. dollar advanced against key currencies on Wednesday after the release of minutes from last month's Federal Reserve meeting, while world shares smashed records and Wall Street closed
higher on investor optimism in the new year.
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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