Malaysian palm oil/Vegoils: Market factors to watch Monday May 28
The Star Online (28/05/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday May 28.
FUNDAMENTALS
* Malaysian palm oil futures saw their sharpest fall in seven weeks on Friday evening, weighed down by weak export demand and losses in related edible oils on the U.S. Chicago Board of Trade and China's Dalian Commodity Exchange.
* U.S. wheat futures jumped more than 2 percent on Friday and ended the week up nearly 5 percent as worries about dry weather in key global production regions fueled short-covering and speculative buying.
* Oil prices dropped on Monday on signs that output from the three top crude producers, Russia, the United States and Saudi Arabia, would climb to meet concerns about supply amid strong demand.
MARKET NEWS
* Growing expectations of increased oil supply hit crude prices on Friday, lifting the U.S.dollar and weighing on energy shares, while political upheaval in Europe and uncertainty over a U.S.-North Korea summit restrained equity markets.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's May 1-31 palm oil export data on May 31.
Cargo surveyor SGS releases Malaysia's May 1-31 palm oil export data on May 31. - Reuters