Malaysian palm oil/Vegoils: Market factors to watch Monday Feb 26
26.02.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 26.
FUNDAMENTALS
* Malaysian palm oil futures rose over 1 percent on Friday evening, rising to a two week high, backed by gains in related edible oils such as soyoil on the U.S. Chicago Board of Trade, and as export demand remains firm.
* U.S. soybean futures neared a one-year high on Friday as concerns mounted about crop losses from a searing drought in Argentina, the world's biggest exporter of soymeal and soyoil.
* Oil prices held little changed near two-week highs early on Monday, supported by comments from Saudi Arabia that it would continue to curb exports in line with the OPEC-led effort to cut global supplies.
MARKET NEWS
* Asian markets were in a guardedly upbeat mood on Monday, heading into an event-packed week headlined by U.S. inflation data and the first House testimony by the new head of the Federal Reserve.
RELATED
Malaysia's FGV aims to increase land bank, palm oil output
Washington concerned China may restrict grain trade -U.S. official
USDA sees slight decline in U.S. 2018 corn, soy production
BHP, ExxonMobil drop sale of Australian oil and gas assets
China LNG imports hit record in Jan ahead of cold snap
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 26.
Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 26. - Reuters