Malaysian palm oil/Vegoils: Market factors to watch Tuesday June 26
The Star Online (26/06/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 26.
FUNDAMENTALS
* Malaysian palm oil futures reversed earlier losses to chart a second straight session of gains at the close of trade on Monday, as the market's outlook of falling output supported prices.
* U.S. soybean futures fell about 2 percent on Monday on generally favorable Midwest crop weather and worries about trade with China, the world's biggest soy importer, traders said.
* Oil fell on Monday as investors prepared for an extra 1 million barrels per day (bpd) of oil to hit markets after OPEC agreed to raise production and as U.S. equity markets slipped on trade war fears.
MARKET NEWS
* Global stocks extended a sell-off on Tuesday as mounting trade tensions between the United States and other major economies continued to steer investors away from riskier assets, lifting safe-haven U.S. Treasuries and keeping the dollar on the defensive.
RELATED
COLUMN- Crop Watch: Abundant U.S. Midwest rains worse for west than east
Wilmar halts buying from suppliers accused of deforestation by Greenpeace
COLUMN-Funds wipe out bullish bets in CBOT corn, soy, wheat
Agroconsult cuts Brazil 2nd corn crop forecast to 55.2 mln tonnes
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-30 palm oil export data on June 30.
Cargo surveyor SGS releases Malaysia's June 1-30 palm oil export data on June 30.
- Reuters