Malaysian palm oil/Vegoils: Market factors to watch Monday April 23
23.04.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 23.
FUNDAMENTALS
* Malaysian palm oil futures made gains on Friday evening, their first in three sessions, tracking strength in crude oil prices and as the market saw profit taking in evening trade.
* U.S. wheat, corn and soybean futures fell on Friday, with forecasts for beneficial crop weather across key growing areas sparking a round of fund liquidation ahead of the weekend, traders said.
* Oil prices dipped early on Monday as a rising U.S. rig count pointed to further increases in the country's output, underlining one of only a few factors holding back crude markets in an otherwise bullish environment.
MARKET NEWS
* Asian stocks started in muted fashion on Monday as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on U.S. bond yields as they approached peaks that had triggered ructions in the past.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-25 palm oil export data on Apr 25.
Cargo surveyor SGS releases Malaysia's Apr 1-25 palm oil export data on Apr 25. - Reuters