Malaysian palm oil/Vegoils: Market factors to watch Wednesday July 25
The Star Online (25/07/2018) - KUALALUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 25.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in more than a week on Tuesday evening, charting a second consecutive session of losses on expectations that production will rise in the coming weeks.
* U.S. soybean futures climbed to two-week highs on Tuesday as the Trump administration said it would provide up to $12 billion in aid to shield American farmers from economic pain stemming from trade disputes.
* Oil prices rose on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from oversupply worries and trade tensions between China and the United States.
MARKET NEWS
* Asian stocks rode higher on Wednesday thanks to strong U.S. corporate earnings and hopes China will boost fiscal support for its economy, while long-term U.S. yields hovered near six-week highs on speculation the Bank of Japan could be less accommodative.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's July 1-25 palm oil export data on July 25.
Cargo surveyor SGS releases Malaysia's July 1-25 palm oil export data on July 25. - Reuters