The Star Online (19/12/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Dec 19.

FUNDAMENTALS

* Malaysian palm oil futures rose more than 1 percent on Tuesday and hit its highest level in six weeks, tracking gains in U.S. soyoil in Chicago and supported by prospects for an easing of production.

* U.S. soybean futures rose for a second straight session on Tuesday as Chinese importers booked U.S. shipments in the second wave of purchases since striking a trade war truce with Washington earlier this month.

* Oil prices tumbled more than 5 percent on Tuesday in heavy trade due to fears of oversupply and deteriorating demand, extending a selloff that has taken major crude benchmarks down more than 30 percent from an October peak.

MARKET NEWS

ADVERTISING

* Asian share markets played second fiddle to bonds on Wednesday as a spectacular fall in the price of oil fanned speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the day.


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DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia's Dec 1-20 palm oil export data on Dec 20.

Cargo surveyor SGS releases Malaysia's Dec 1-20 palm oil export data on Dec 20. - Reuters