Malaysian palm oil/Vegoils: Market factors to watch Wednesday Jan 2
02.01.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 2.
FUNDAMENTALS
* Malaysian palm oil futures closed slightly down on Monday as a stronger ringgit weighed on the last trading day of 2018, charting a second consecutive year of declines as high inventories and weak demand pushed down prices.
* U.S. wheat futures fell more than 1 percent on Monday in thin, technically driven trade, brokers said, but still posted a yearly gain of nearly 18 percent.
* U.S. oil began 2019 in positive territory on Wednesday, although the general outlook for the year is weak amid soaring U.S. crude supply and concerns of an economic slowdown.
MARKET NEWS
* Asian shares crept cautiously higher on the first trading day of the new year as early gains in U.S. stock futures spoke of some improvement in risk appetite.
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ICE cotton registers worst year in four
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 10. - Reuters