Palm oil/Vegoils: Market factors to watch Friday Jan 19
19/01/2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Jan 19.
FUNDAMENTALS
* Malaysian palm oil futures fell to a three-week low on Thursday on concerns that demand could take a hit from a European Union move towards banning the use of palm oil in biofuels.
* U.S. soybean futures climbed for a fourth straight session on Thursday to the highest in nearly two weeks on concerns that dry conditions in Argentina could reduce the soybean crop and scale back soymeal supplies.
* Oil was little changed on Thursday, as prices eased early in the session, but were supported by a record drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub.
MARKET NEWS
* A gauge of world stock markets slipped on Thursday, pausing after notching a run of record highs, as a decline in Boeing and interest-rate sensitive sectors such as utilities and real estate weighed on U.S. equities.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 20.
- Reuters