Malaysian palm oil/Vegoils: Market factors to watch Wednesday Jan 16
16.01.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 16..
FUNDAMENTALS
* Malaysian palm oil futures rose on Tuesday evening for their biggest daily advance in a week, rebounding from Monday's near two-week low, tracking gains in crude oil prices.
* U.S. soybean futures fell for the third time in four sessions on Tuesday on worries that the United States and China remain far apart in resolving a bitter trade fight that has slashed U.S. soy imports by the world's top buyer.
* Oil prices rose about 3 percent on Tuesday, along with world stock markets, supported by China's plan to introduce policies to stabilize a slowing economy, reversing the previous session's losses due to grim data in the world's second-largest economy.
MARKET NEWS
* Major world stock markets climbed on Tuesday on hopes of more stimulus for China's economy, while sterling rebounded from the day's lows after British lawmakers defeated Prime Minister Theresa May's deal on withdrawing from the European Union.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-20 palm oil export data on Jan 21
Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 21
Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 21
Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 21. - Reuters