Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 14
14.02.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 14.
FUNDAMENTALS
* Malaysian palm oil futures on Tuesday snapped four days of gains, as the market corrected lower after a rally ahead of the Lunar New Year holidays, traders said.
* U.S. soybean futures rose to a 10-week high on Tuesday, lifted by a surging soymeal market as dry weather in Argentina threatened to reduce crop yields from that key South American supplier, traders said.
* Oil prices ended largely unchanged on Tuesday as a weaker dollar spurred a rebound from an early slide after the International Energy Agency forecast supply could outstrip demand.
MARKET NEWS
* Asian shares were set for a tense session on Wednesday as investors await readings on U.S. inflation that could fan fears of faster rate hikes and unleash another burst of global volatility.
RELATED
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Egypt's GASC gets offers in vegetable oil tender -trade
France lifts 2017 maize, sugar beet crop estimates, cuts wheat again
China to step up digesting rice stocks, expand ethanol production in 2018
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15. - Reuters