Malaysian palm oil/Vegoils: Market factors to watch Friday Dec 21
The Star Online (21/12/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Dec 21.
FUNDAMENTALS
* Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.
* U.S. soybean futures fell to three-week lows on Thursday as improving crop prospects in South America overshadowed renewed Chinese demand for U.S. shipments.
* Oil prices fell about 5 percent on Thursday, hitting their lowest level in more than a year on worries about oversupply and the outlook for energy demand as a U.S. interest rate rise knocked stock markets.
MARKET NEWS
* Global stocks were sailing into Christmas on a sea of red on Friday as the threat of a U.S. government shutdown and of further hikes in U.S. borrowing costs inflamed investor unease over the economic outlook.
RELATED
Indonesia's palm oil output, exports eased in November - Reuters survey
China poised to buy more U.S. soybeans - sources
China trade war rattles investors in new U.S. soy processing plants
Biofuel hardship waiver petitions to EPA rise to 22 as of mid-Dec
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 26. - Reuters