Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 21
The Star Online (21/02/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 21
FUNDAMENTALS *
Malaysian palm oil futures slid on Tuesday as export growth slowed and the market took a chance to take profits amid mounting production concerns. * U.S. soybean meal futures jumped to their highest level since July 2016 on Tuesday as a drought kept the heat on crops in Argentina, the world's top exporter of the livestock feed.
* U.S. crude hit a near two-week high in a choppy session on Tuesday amid inventory declines at a key storage hub and on expectations that top producers could extend cooperation beyond 2018, while Brent fell under pressure from a stronger dollar.
MARKET NEWS
* Stock markets dipped after a long winning run on Wall Street ended overnight, while the dollar gained momentum on Wednesday as yields on U.S. Treasury debt headed for highs not seen in four years.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25. - Reuters