Malaysian palm oil/Vegoils: Market factors to watch Thursday May 31
The Star Online (31/05/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday May 31.
FUNDAMENTALS
* Malaysian palm oil futures closed higher on Wednesday, rebounding from their weakest levels in over three weeks, as they tracked related oil prices in the Chinese market.
* U.S. wheat futures fell about 2 percent on Wednesday on a mix of profit-taking following 10-month highs established a day earlier and improving weather forecasts for U.S. and Canadian spring wheat regions, analysts said.
* Oil prices dropped on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June.
MARKET NEWS
* Asian stocks rebounded from a two-month trough on Thursday, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing.
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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