Malaysian palm oil/Vegoils: Market factors to watch Tuesday May 22
The Star Online (22/05/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures declined on Monday evening, snapping two sessions of gains, weighed down by weaker export data from a cargo surveyor and an inspection company.
* U.S. soybean futures jumped more than 2 percent on Monday after Washington and Beijing agreed to drop tariff threats, easing fears that demand for U.S. shipments to top importer China could slow.
* U.S. crude hit its highest level since 2014 on Monday amid rising concerns that Venezuela's oil output could fall further following the country's presidential election and potential sanctions on the OPEC-member nation.
MARKET NEWS * Global stock markets rallied broadly on Monday after the United States and China agreed to halt a trade war, while oil hit multi-year highs on political uncertainty and potential
sanctions on Venezuela.
RELATED
Malaysia's May 1 - 20 palm oil exports fall 20.9 pct -AmSpec Agri
Malaysia's May 1-20 palm oil exports fell 18.0 pct -SGS
Drought, armyworms cut Malawi maize crop by 19 pct - minister
Trade war fears ebb as U.S., China agree to continue talks
U.S. commodity exports to China to rise amid trade talks, but volumes are capped
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's May 1-20 palm oil export data on May 25.
Cargo surveyor SGS releases Malaysia's May 1-20 palm oil export data on May 25. - Reuters