Malaysian palm oil/Vegoils: Market factors to watch Tuesday Feb 6
The Star Online (06/02/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose late on Monday, charting their first session of gains in three, as the ringgit weakened and traders covered short positions.
* U.S. wheat futures fell to a one-week low on Monday on technical selling and an improving weather outlook, including beneficial moisture in parts of the Midwest winter wheat belt, analysts said.
* Oil prices settled lower on Monday as rising U.S. output, a weaker physical market and recent dollar strength added to the pressure from a widespread decline across equities and commodities markets.
MARKET NEWS
* Asian shares were set to fall sharply on Tuesday after Wall Street suffered its biggest decline since 2011 as investors' faith in factors underpinning a bull run in markets began to crumble.
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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