Malaysian palm oil/Vegoils: Market factors to watch Friday June 1
01.06.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 1.
FUNDAMENTALS
* Malaysian palm oil benchmark futures fell on Thursday as a weak demand outlook continued to put pressure on prices of the vegetable oil.
* U.S. soybean futures ended lower on Thursday on worries about global trade tensions threatening exports, analysts said, while wheat and corn firmed on bargain-buying and ideas of tightening global supplies.
* U.S. crude oil steadied on Friday after deep losses in the previous session on pressure from all-time high U.S. production and expectations of higher OPEC output.
MARKET NEWS
* Investor concerns over U.S. trade policy overshadowed worries about political instability in Italy, driving equity prices lower on Thursday.
RELATED
Egypt's rejection of Russian wheat over ergot creates latest supply snag
Canada to U.S.: Explain that $30 bln farm spending war chest
ICCO sees global cocoa surplus of 10,000 tonnes in 2017/18
Indian sugar output likely to hit record next season as farmers stay sweet on cane
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-10 palm oil export data on June 10.
Cargo surveyor SGS releases Malaysia's June 1-10 palm oil export data on June 10. - Reuters