Malaysian palm oil/Vegoils: Market factors to watch Thursday June 21
The Star Online (21/06/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday June 21.
FUNDAMENTALS
* Malaysian palm oil futures fell on Wednesday evening, charting a third consecutive session of declines, as the market was weighed down by weaker related edible oils and slowing exports.
* U.S. soybean and corn futures ended nearly flat on Wednesday, consolidating one day after the front soybean contract Sc1 plunged to a near 10-year low on trade tensions and favorable Midwest
crop weather, analysts said.
* U.S. crude futures rose nearly 2 percent on Wednesday, supported by a drop in domestic inventories, while Brent edged down ahead of an OPEC meeting later this week that may result in increased global production.
MARKET NEWS
* Stocks on world markets edged higher on Wednesday, following a recent sell-off on rapidly escalating China-U.S. trade tensions, while Treasury yields rose after the Federal Reserve chairman said the U.S. central bank should continue with a gradual pace of interest rate hikes.
RELATED
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EU to impose duties on U.S. imports Friday after Trump tariffs
China Energy executives cancel West Virginia trip amid trade dispute
Bank of China International launches onshore commodity indices
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-25 palm oil export data on June 25.
Cargo surveyor SGS releases Malaysia's June 1-25 palm oil export data on June 25. - Reuters