Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 13
The Star Online (13/02/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 13.
FUNDAMENTALS
* Malaysian palm oil futures slipped on Tuesday, posting a third day of declines amid slowing export demand.
* U.S. soybean futures rose more than 1 percent on Tuesday, rebounding off a near three-week low amid technical buying and optimism about prospects for a U.S. trade agreement with China, the world's top buyer of soybeans, analysts said.
* Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels.
MARKET NEWS
* Signs that the United States and China might reach an agreement in trade talks and news of a tentative deal to avoid another government shutdown in Washington helped push world stock markets and bond yields broadly higher Tuesday.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15
Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15. - Reuters