Malaysian palm oil/Vegoils: Market factors to watch Monday March 19
The Star Online (19/03/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday March 19.
FUNDAMENTALS
* Malaysian palm oil futures fell 1 percent on Friday, ending four straight days of gains on forecasts for rising production in March.
* Chicago wheat futures dropped to a 2-1/2-week low on Friday on outlooks for rains by this weekend that should alleviate stress on some crops in the parched U.S. Plains growing region, traders said.
* Oil prices jumped on Friday, with Brent crude futures hitting their highest in more than two weeks as U.S. stock prices rose and investors covered short bets ahead of a weekend in which the U.S. news program "60 Minutes" will air an interview with Saudi Arabia's crown prince.
MARKET NEWS
* Oil prices finished the week at a gain after a big Friday rally, and U.S. stock indices ended flat-to-higher, to close a bumpy week on a high note.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Mar 1-20 palm oil export data on Mar 20.
Cargo surveyor SGS releases Malaysia's Mar 1-20 palm oil export data on Mar 20. - Reuters