Malaysian palm oil/Vegoils: Market factors to watch Apr 19
The Star Online (19/04/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures closed flat on Wednesday as short covering in the second half of trade helped the market recover from losses earlier in the day.
* U.S. wheat futures rose on Wednesday, with the benchmark Chicago Board of Trade soft red winter wheat contract Wv1 gaining 1.9 percent and hitting a one-week high on concerns that rains
forecast for the U.S. Plains will not meet earlier expectations.
* Oil prices on Thursday remained close to highs touched the previous day that were last seen in late 2014, buoyed as U.S. crude inventories declined and as top exporter Saudi Arabia is expected to keep withholding supply to prop up the market.
MARKET NEWS
* Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.
RELATED
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China building new grain port on Russian border - Xinhua
S.Korea passes on 10,000 T soybean for June-Oct
Brazil lifts embargo on some BRF plants ahead of potential EU ban
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