Malaysian palm oil/Vegoils: Market factors to watch Thursday March 1
01.03.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oilmarkets on Thursday March 1.
FUNDAMENTALS
* Malaysian palm oil futures rose to a seven-week high in trade on Wednesday evening, extending gains into a fourth session, on support from a weaker ringgit.
* Chicago Board of Trade soft red winter wheat futures jumped 3.3 percent on Wednesday to their highest level in more than seven months, breaking through key technical barriers on support from
concerns about crop development in the U.S. Plains, traders said.
* Oil prices fell on Wednesday, after official data showed a larger-than-expected increase in U.S. crude inventories and a surprise build in gasoline stocks.
MARKET NEWS
* Asian stocks skidded on Thursday after comments from the Federal Reserve's new chief rekindled fears about the pace of U.S. monetary tightening this year, sending Wall Street tumbling for its worst performance in two years and lifting the dollar.
RELATED
FOCUS-Bunge's coveted Argentina plants lure ADM takeover approach
EXCLUSIVE-Bayer to win EU approval for $62.5 bln Monsanto deal - sources
Noble Group plunges to $4.9 bln loss, in talks to wrap up debt deal
U.S. to stay stuffed with soybeans despite Argentine losses -Braun
India to double state purchases of oilseeds, pulses to help farmers
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Mar 1-10 palm oil export data on Mar 10.
Cargo surveyor SGS releases Malaysia's Mar 1-10 palm oil export data on Mar 10. - Reuters