Malaysian palm oil/Vegoils: Market factors to watch Wednesday Nov 15
The Star Online (15/11/2017) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Nov 15.
FUNDAMENTALS
* Malaysian palm oil futures hit their lowest in nearly four weeks on Tuesday evening, weighed down by overnight losses in the Chicago Board of Trade (CBOT) soyoil and weakness in related
oils on China's Dalian Commodity Exchange.
* U.S. corn futures dropped 1.4 percent to a one-year low on Tuesday, pressured by ample supplies from the nearly completed harvest of the second-largest domestic corn crop on record,
traders said.
* U.S. oil prices tumbled on Wednesday, continuing Tuesday's slide after the International Energy Agency (IEA) cast doubts over the past few months' narrative of a tightening fuel
market.
MARKET NEWS
* Asian stocks slipped on Wednesday after weaker crude oil prices took a toll on Wall Street, while the euro kept big gains after enjoying a boost from robust German economic growth.
RELATED
Malaysia's 2018 palm oil output seen growing from 19.5 mln tonnes this year
Farmers, retailers sign "fair price" agreement for produce
German rapeseed sowings for 2018 crop seen down 1.9 pct
Malaysia lowers Dec crude palm oil export tax to 6 pct -govt circular
Indonesia's state plantation company forecasts 2018 palm oil output to stay steady
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15. - Reuters