Malaysian palm oil/Vegoils: Market factors to watch Tuesday Feb 27
27.02.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 27.
FUNDAMENTALS
* Malaysian palm oil futures hit a two-week high on Monday evening, recording a second straight session of gains, as rising demand for palm and gains in rival oilseeds supported the market.
* U.S. soybean futures eased on Monday for the first time in five sessions as profit-taking undercut earlier support stemming from weather forecasts suggesting little rain in drought-hit Argentina, the world's third-largest exporter.
* U.S. oil prices rose for a fourth session on Tuesday to near a three-week high hit a day earlier, supported by signs of robust production curbs by OPEC and non-OPEC countries and a slight fall in U.S. production.
MARKET NEWS
* Global equities rose on Monday, with Wall Street surging more than 1 percent, while the dollar was little changed as investors bet the new head of the Federal Reserve will steer a steady course on policy when he addresses U.S. lawmakers this week.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Feb 1-28 palm oil export data on Feb 28.
Cargo surveyor SGS releases Malaysia's Feb 1-28 palm oil export data on Feb 28. - Reuters