Malaysian palm oil/Vegoils: Market factors to watch Friday Jan 5
05/01/2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Jan 5.
FUNDAMENTALS
* Malaysian palm oil futures fell in trade on Thursday evening on the back of a technical correction, dropping from their highest in a month hit during the previous session.
* U.S. soybean futures fell on Thursday, with traders locking in profits from three straight days of gains after forecasts boosted the prospects for rain in Argentina.
* Oil rose on Thursday to its highest since May 2015, on concern about supply risks due to unrest in Iran and another decline in U.S. inventories as refining activity hit a 12-year high.
MARKET NEWS
* Asian shares inched closer to their record 2007 peak on Friday as U.S. jobs data pointed to firm economic growth although the greenback was soft as the spectre of benign inflation capped domestic bond yields.
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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