Malaysian palm oil/vegoils: Market factors to watch Monday Dec 31
The Star Online (31/12/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Dec 31.
FUNDAMENTALS
* Malaysian palm oil futures edged higher on Friday for a second straight day of gains and tracking strength in soyoil on the Chicago Board of Trade.
* U.S. soybean futures climbed on Friday to their highest prices in more than a week, on hopes China will make additional purchases of the oilseed in a thawing of the trade war between the world's two biggest economies, traders said.
* Oil prices steadied on Friday after a week of volatile trading ahead of the New Year holiday, supported by a rise in U.S. equity markets but pressured by
worries about a global glut of crude.
MARKET NEWS
* Asian stocks crept higher on Monday as hints of progress on the Sino-U.S.
trade standoff provided a rare glint of optimism in what has been a
disappointing year for equities in the region.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Dec 1-31 palm oil export data on Dec 31.
Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Dec 31. - Reuters