Malaysian palm oil/Vegoils: Market factors to watch Friday April 20
The Star Online (20/04/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday April 20.
FUNDAMENTALS
* Malaysian palm oil futures declined on Thursday evening, with the market weighed down by forecasts of slowing demand growth ahead of a data release by cargo surveyors on Friday.
* U.S. wheat futures edged lower on Friday but were set to post a weekly gain of nearly 4 percent as earlier forecasts of much needed rains were scaled back, heightening concerns about the condition of the U.S. crop.
* Oil prices on Thursday hit highs not seen since 2014, built on the ongoing drawdowns in global supply and as Saudi Arabia looks to push prices higher, though U.S. crude gave back gains in the
afternoon to finish lower.
MARKET NEWS
* Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-20 palm oil export data on Apr 20.
Cargo surveyor SGS releases Malaysia's Apr 1-20 palm oil export data on Apr 20. - Reuters