Malaysian palm oil/Vegoils: Market factors to watch Feb 5
The Star Online (05/02/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 5.
FUNDAMENTALS
* Malaysian palm oil futures were down 1 percent at the close of trading on Friday, following data that showed exports from the world's second-biggest producer of the edible oil fell 8.8 percent in January.
* U.S. soybean futures fell for a third straight session on Friday on technical selling and as an improved South American crop weather forecast soothed some anxiety about drought-reduced production in Argentina.
* Oil prices fell on Friday as the dollar surged following strong U.S. jobs numbers, though compliance with output cuts by OPEC and rising global demand kept much of the early year oil rally in place.
MARKET NEWS
* Asian share markets stumbled on Monday as fears of resurgent inflation battered bonds, toppled Wall Street from record highs and sparked speculation central banks globally might be forced to tighten more aggressively.
RELATED
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Indonesia to file case against U.S. anti-subsidy duty on biodiesel
India's 2017/18 palm oil imports could rise 1.9 pct - analyst Mielke
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.
Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10. - Reuters