Malaysian palm oil/Vehoils: Market factors to watch Thursday April 26
26.04.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday April 26.
FUNDAMENTALS
* Malaysian palm oil futures ended flat on Wednesday evening, previously charting two earlier sessions of declines, as it traded in a tight range due to lacklustre export data.
* U.S. corn futures rallied to a nine-month peak and wheat rose to its highest in nearly seven weeks on Wednesday, supported by a round of short-covering amid persistent concerns about adverse weather curtailing harvest expectations for both grains, traders said.
* Oil prices rose on Wednesday despite data showing rising U.S. inventories, holding within sight of three-year highs reached the previous day on geopolitical tensions including the prospect of fresh sanctions on Iran.
MARKET NEWS
* Asian stocks edged up on Thursday as robust corporate earnings helped Wall Street quell concerns over a surge in U.S. bond yields, while the dollar hovered near three-month highs against a basket of currencies.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-30 palm oil export data on Apr 30.
Cargo surveyor SGS releases Malaysia's Apr 1-30 palm oil export data on April 30. - Reuters