Malaysian palm oil/Vegoils: Market factors to watch Thursday Mar 29
29.03.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday March 29.
FUNDAMENTALS
* Malaysian palm oil futures edged lower on Wednesday evening as the ringgit MYR= strengthened further and hit its highest in nearly two years.
* U.S. wheat futures dipped to two-month lows on Wednesday as improving weather for developing crops in the drought-hit southern Plains put the focus back on ample world supplies, traders said.
* Oil prices fell about 1 percent on Wednesday after data showed U.S. crude inventories unexpectedly rose 1.6 million barrels last week, weighing on market sentiment.
MARKET NEWS
* Asian stocks edged up and the safe haven yen was broadly lower against the dollar on Thursday amid perceived progress on North Korea issues, although equity gains were limited after a tech-led retreat on Wall Street.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Mar 1-30 palm oil export data on Mar 30.
Cargo surveyor SGS releases Malaysia's Mar 1-30 palm oil export data on Mar 30. - Reuters