Malaysian palm oil/Vegoils: Market factors to watch Friday May 25
The Star Online (25/05/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday May 25.
FUNDAMENTALS
* Malaysian palm oil futures rose to a seven-week high on Thursday evening, tracking gains in U.S. soyoil and supported by a weaker ringgit.
* U.S. wheat futures eased from 10-month peaks on Thursday as profit-taking eroded early gains stemming from dry weather in the U.S. Plains and other major growing areas around the world.
* Oil prices eased on Friday as Russia hinted it may gradually increase output after withholding supplies since 2017 together with producer cartel OPEC.
MARKET NEWS
image: https://content.thestar.com.my/smg/settag/name=lotame/tags=all
* Shares sank worldwide on Thursday as U.S. President Donald Trump canceled a planned June meeting with North Korean leader Kim Jong Un, while tariff fears hit auto stocks and safety buying ramped up.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's May 1-20 palm oil export data on May 25.
Cargo surveyor SGS releases Malaysia's May 1-20 palm oil export data on May 25. - Reuters