Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 7
The Star Online (07/02/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 7.
FUNDAMENTALS
* Malaysian palm oil futures declined on Tuesday, and have now fallen in three of the past four days, tracking losses in global financial markets and as traders booked profits.
* U.S. soybean futures rose 1.7 percent on Tuesday on worries about dry weather hurting crop prospects in Argentina, despite rains expected in the coming days, analysts said.
* Oil fell for a third day on Tuesday as the U.S. dollar rose to its highest in more than a week in the wake of a sharp sell-off early this week on Wall Street and other stock markets.
MARKET NEWS
* Asian share markets were trying to find their footing on Wednesday as a semblance of calm returned to Wall Street where major indices bounced into the black after days of deep losses.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10. - Reuters