Malaysian palm oil/Vegoils: Market factors to watch friday Mar 16
16.03.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday March 16.
FUNDAMENTALS
* Malaysian palm oil futures rose for a fourth consecutive session on Thursday, hitting a one-week top on short-covering and expectations of higher demand ahead of Ramadan.
* Chicago Board of Trade wheat 0#W: fell nearly 2 percent on Thursday in a technical sell-off amid outlooks for rain in the parched U.S. Plains crop belt, traders and analysts said.
* Oil prices edged higher in choppy trade on Thursday after the International Energy Agency said global oil demand is expected to pick up this year, but warned supply is growing at a faster pace.
MARKET NEWS
* The S&P 500 edged slightly lower on Thursday, in its first four-day losing streak of 2018, while global political tensions kept demand high for safe-haven government bonds on both sides of the Atlantic.
RELATED
Argentine drought-hit soy crop seen collapsing to 40 mln tonnes
India's Feb vegoil imports down 9 pct y/y at 1.2 mln tonnes - trade body
Good weather bolsters chance of large grain crop in Russia, Ukraine
COLUMN-U.S. corn sales break records, but will demand stay healthy?
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Mar 1-20 palm oil export data on Mar 20.
Cargo surveyor SGS releases Malaysia's Mar 1-20 palm oil export data on Mar 20.
- Reuters