Malaysian palm oil/Vegoils: Market factors to watch Monday March 4
4 Mar 2019 (The Star Online) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday March 4.
FUNDAMENTALS
* Malaysian palm oil futures gained more than 3 percent at the close of trade on Friday, snapping five previous losing sessions, supported by short covering and forecasts of falling February production versus the previous month.
* U.S. wheat prices fell on Friday and posted their steepest weekly decline since late August as technical selling and competitive global supplies pressured prices.
* Oil prices firmed on Monday as the United States and China were reported to be close to signing a trade deal, ending a tit-for-tat tariff row that has roiled financial markets and clouded the outlook for the global economy.
MARKET NEWS
* U.S. stock futures jumped on Monday on reports the United States and China were close to striking a trade deal after a year-long tariff skirmish while the dollar eased as traders wagered Federal Reserve policy will remain accommodative.
RELATED
COLUMN-Funds dig deeper into bear territory as CBOT selling persists -Braun
Global 2019 palm oil demand set for first contraction in two decades
Egypt's GASC seeking soyoil, sunflower oil in tender
Trump asks China to lift tariffs on U.S. farm products
Brazil March soy exports seen down on U.S. competition, farmer hoarding
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Mar 1-10 palm oil export data on Mar 11.
Cargo surveyor SGS releases Malaysia's Mar 1-10 palm oil export data on Mar 11.
Cargo surveyor ITS releases Malaysia's Mar 1-10 palm oil export data on Mar 11. - Reuters