Malaysian palm oil/Vegoils: Market factors to watch Tuesday Dec 26
The Star Online (26/12/2017) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Dec 26.
FUNDAMENTALS
* Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand.
* U.S. soybean futures edged higher on Friday for the first time in seven sessions in a short-covering bounce, but remained near three-month lows as forecast rain in Argentina eased concern about a potential supply risk.
* Oil prices rose in light volumes on Friday, steadying near their highest levels since 2015 on pledges from OPEC leader Saudi Arabia and non-OPEC Russia that any exit from crude output cuts would be gradual.
MARKET NEWS
* Major global stock indexes slipped on Friday in light pre-holiday trade, exacerbated by weakness in several blue-chip companies' shares, while Spanish bond yields rose after separatists won a Catalan election.
RELATED
Indonesia Nov palm oil exports likely fell on weak global demand -Reuters survey
U.S. trade groups release harvest quality reports for soy, corn
Forecast rains bolster Brazil soy crop prospects -AgRural
Exporters sell U.S. soybeans to China- USDA
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 26.
- Reuters