Malaysian palm oil/Vegoils: Market factors to watch Thursday Feb 21
The Star Online (21/02/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Feb 21.
FUNDAMENTALS
* Malaysian palm oil futures fell to a one-month low on Wednesday with traders expecting a slower than forecast decline in February output.
* Chicago Board of Trade wheat futures plunged yet again on Wednesday as traders fretted over lagging U.S. exports despite them being competitively priced in the global market.
* Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from top producers as well as U.S. sanctions on OPEC members Iran and Venezuela.
MARKET NEWS
* An index of stocks across the globe hit a more than four-month high on Wednesday on hopes for progress in trade talks between the United States and China, and a supportive backdrop from major central banks also helped push risk assets higher.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 25.
Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 25. - Reuters