Malaysian palm oil/Vegoils: Market factors to watch Monday July 16
16.07.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil market on Monday July 16
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in nearly three years on Friday evening in a fourth session of losses, tracking declines in related edible oils.
* U.S. soybean futures slid to fresh lows on Friday and the most-active contract closed at the lowest in nearly a decade after a government report reinforced concerns that the trade dispute with China will dent exports and lead to a build-up in stocks.
* Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
MARKET NEWS
* The benchmark S&P 500 index hit a more than five-month high on Friday on gains in industrial stocks and energy companies, while the safe-haven U.S. dollar flattened after touching a two-week high.
RELATED
Brazil soy area to hit record next season - Safras & Mercado
Chinese officials inspecting Indian mills for imports of non-basmati rice- Indian govt source
China's June soy imports jump ahead of tariffs on U.S. shipments
Norway oil strike: sides not talking, Aker BP warns of production hit
Russia says may step up oil output to tackle deficit
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's July 1-15 palm oil export data on July 16.
Cargo surveyor SGS releases Malaysia's July 1-15 palm oil export data on July 16. - Reuters