Malaysian palm oil/Vegoils: Market factors to watch Friday July 20
20.07.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday July 20.
FUNDAMENTALS
* Malaysian palm oil futures edged down after hitting a one week-high in early trade on Thursday, undergoing a technical correction after strong gains in the previous session and on sluggish demand.
* U.S. grain futures rose on Thursday on strong demand for corn and worries that harvests may be smaller than expected due to unfavorable global weather.
* Global benchmark Brent crude dipped on Thursday as concerns about mounting supply returned after a brief rally earlier in the session on comments that Saudi Arabia's exports would fall in August.
MARKET NEWS
* The U.S. dollar pulled back from year-high levels on Thursday after U.S. President Donald Trump expressed concern about a strong currency, while disappointing earnings reports and escalating trade tensions weighed on stocks.
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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