Malaysian palm oil/Vegoils: Market factors to watch Friday May 4
The Star Online (04/05/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday May 4.
FUNDAMENTALS
* Malaysian palm oil futures slid to their lowest in over a year in late trade on Thursday, charting a sixth day of losses in eight, as traders turned bearish over weakening export demand.
* U.S. wheat futures climbed to multimonth highs Thursday on a mix of short-covering and worries about the size of the hard red winter wheat crop in top producer Kansas, traders said.
* Oil prices rose on Thursday, boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.
MARKET NEWS
* Asian shares were steady while the Japanese yen held onto overnight gains in early trading on Friday as financial markets turned their attention to the looming U.S. payrolls data for fresh catalysts.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's May 1-10 palm oil export data on May 10.
Cargo surveyor SGS releases Malaysia's May 1-10 palm oil export data on May 10. - Reuters