Malaysian palm oil/Vegoils: Market factors to watch Tuesday Oct 16
16.10.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets .on Tuesday Oct 16
FUNDAMENTALS
* Malaysian palm oil futures fell from a one-week high to close lower on Monday, as export data showing weaker shipments.
* U.S. soybean futures jumped 2.8 percent on Monday on poor Midwest harvest conditions, coupled with reminders of strong domestic crushing demand and signs of U.S. soy cargoes headed to China, analysts said.
* Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from Riyadh, but weighed by concern over long-term demand outlook.
MARKET NEWS
* Major stock markets slipped on Monday as rising tensions between Western powers and Saudi Arabia added to concerns over the pace of global economic growth, with investors flocking to traditional safe-havens like the Japanese and Swiss currencies, as well as gold.
RELATED
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NOPA September soy crush tops expectations at 160.779 mln bushels
COLUMN-Funds flirt with bullish corn territory after U.S. yield cut
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Oct 1-20 palm oil export data on Oct 20.
Cargo surveyor SGS releases Malaysia's Oct 1-20 palm oil export data on Oct 20. - Reuters