Malaysian palm oil/Vegoils: Market factors to watch Tuesday June 19
19.06.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 19.
FUNDAMENTALS
* Malaysian palm oil futures saw their sharpest decline in a week at the close of trade on Monday evening, on the back of weaker export demand and a fall in crude oil prices.
* U.S. corn futures fell to life-of-contract lows on Monday and soybeans briefly dipped below US$9 a bushel for the first time since 2016 as favorable weather outlooks bolstered yield prospects and trade tensions threatened export demand, analysts said.
* Oil prices rose on Monday in volatile trade as market participants lowered their expectations for how much OPEC might increase production and investors assessed the impact of a trade dispute between the United States and China.
MARKET NEWS
* Global stocks ended lower on Monday as investors eyed an escalating trade dispute between the United States and China while oil prices rose on bets that an OPEC production increase would be smaller than expected.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-20 palm oil export data on June 20.
Cargo surveyor SGS releases Malaysia's June 1-20 palm oil export data on June 20.
- Reuters