03.01.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 3..

FUNDAMENTALS

* Malaysian palm oil futures rose to their highest in nearly two weeks on the first trading day of 2019, after world's largest edible oil importer India announced import tax cuts, amid expectations of a fall in production.

* U.S. soybean futures advanced to a near two-week high on Wednesday on declining yield prospects in Brazil and optimism about U.S. trade relations with top global soy buyer China, traders said.

* Oil prices rose about 2 percent in choppy trading on Wednesday, supported by a slight recovery on Wall Street, even as concerns remained about weakening global economic growth which could hurt demand for oil.

MARKET NEWS

* Weak Chinese and European economic data weighed on stocks around the world and boosted safe-haven Treasuries and the Japanese yen on Wednesday, though Wall Street shares edged higher as investors took advantage of cheaper shares to ring in the new year.

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 Key U.S. crop reports may still be issued if gov't shutdown ends -USDA

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