Malaysian palm oil/Vegoils: Market factors to watch Friday Feb 23
The Star Online (23/02/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 23.
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening, ending the day slightly weaker after posting gains at noon, as market sentiment turned bearish on a less than expected drop in output.
* U.S. grain and soy futures were about flat on Thursday in largely technical-driven trading as investors awaited supply and demand estimates from an annual Department of Agriculture forum due early on Friday.
* Oil prices rose to two-week highs on Thursday, boosted by data showing a surprise draw in U.S. crude inventories and also by a drop in the dollar.
MARKET NEWS
* Most U.S. stocks advanced on Thursday, rebounding from a day earlier, and bond yields eased off highs following more cautious talk about the potential for interest rate increases this
year.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-25 palm oil export data on Feb 26.
Cargo surveyor SGS releases Malaysia's Feb 1-25 palm oil export data on Feb 26. - Reuters