Malaysian palm oil/Vegoils: Market factors to watch Tuesday Feb 26
The Star Online (26/02/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 26.
FUNDAMENTALS
* Malaysian palm oil futures fell to a one-month low late on Monday, charting a second consecutive session of declines weighed down by expectations of weaker demand and stronger than expected output levels in the coming weeks.
* U.S. soybean futures climbed to a 2-1/2-week high on Monday on hopes for a trade agreement between Washington and Beijing and after China vowed late last week to make additional U.S. soybean purchases.
* Oil futures tumbled more than 3 percent on Monday in their largest daily percentage drop this year after U.S. President Donald Trump called on OPEC to ease its efforts to boost crude prices, which he said were "getting too high."
MARKET NEWS
* World stock markets rose on Monday after U.S. President Donald Trump said he would delay a tariff hike on Chinese imports, buoying hopes of a resolution to a trade war between the world's two biggest economies.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-28 palm oil export data on Feb 28.
Cargo surveyor SGS releases Malaysia's Feb 1-28 palm oil export data on Feb 28.
Cargo surveyor ITS releases Malaysia's Feb 1-28 palm oil export data on Feb 28. - Reuters