Malaysian palm oil/Vegoils: Market factors to watch Thursday July 19
19.07.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday July 19.
FUNDAMENTALS
* Malaysian palm oil futures jumped more than 2 percent to a one-week high on Wednesday evening, as the ringgit weakened and related edible oils recovered.
* U.S. grain and soybean futures touched their highest prices in about a week on Wednesday, as agricultural markets stabilized following recent drops to contract lows.
* Oil prices rose on Wednesday after U.S. government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in U.S. crude inventories and U.S. crude oil production hitting 11 million bpd for the first time.
MARKET NEWS
* Stocks on major world markets climbed to a one-month high on Wednesday after a raft of strong corporate earnings, while the U.S. dollar hit a three-week high against major currencies.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's July 1-20 palm oil export data on
July 20.
Cargo surveyor SGS releases Malaysia's July 1-20 palm oil export data on July
20. - Reuters