Malaysian palm oil/Vegols: Market factors to watch Tuesday Jan 29
The Star online (29/01/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Jan 29.
FUNDAMENTALS
* Malaysian palm oil futures opened at their highest in nearly seven months on Monday, notching up a sixth session of gains in seven, supported by strength in related edible oils.
* Oil prices steadied on Tuesday, edging up from a near two-week low in the previous session when prices fell around 3 percent on fears of supply growth and a global economic slowdown.
MARKET NEWS
* Global stock markets tumbled on Monday after Caterpillar and Nvidia Corp warned of weak Chinese demand while oil posted its biggest one-day drop in a month on expectations of growing U.S. crude supply.
RELATED
EU 2018/19 soybean imports up 8 pct so far, soymeal down 12 pct
Brazil crop tour sees reduced forecast for soy production
Brazil 2019 soybean exports forecast cut to 70.1 mln T
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-31 palm oil export data on Jan 31.
Cargo surveyor SGS releases Malaysia's Jan 1-31 palm oil export data on Jan 31.
Cargo surveyor ITS releases Malaysia's Jan 1-31 palm oil export data on Jan 31. - Reuters