Malaysian palm oil/Vegoils: Market factors to watch Tuesday April 17
The Star Online (17/04/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday April 17.
FUNDAMENTALS
* Malaysian palm oil futures fell to a one-month low on Monday evening, recording a sixth straight day of losses on expectations of slowing demand growth and tracking losses in related edible oils.
* U.S. wheat futures fell to their lowest in 10 days on Monday, led by a 3.4 percent drop in K.C. hard red winter wheat prices, on forecasts for rain in key growing areas that will provide relief to a drought-stressed crop, traders said.
* Oil prices dropped on Monday as investor concern waned about escalating tensions in the Middle East following air strikes on Syria over the weekend.
MARKET NEWS
* Asia stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China amid signs Western-led strikes on Syria weren't likely to escalate.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-20 palm oil export data on Apr 20.
Cargo surveyor SGS releases Malaysia's Apr 1-20 palm oil export data on Apr 20. - Reuters