Malaysian palm oil: Market factors to watch Monday July 23
23.07.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil market on Monday July 23
FUNDAMENTALS
* Malaysian palm oil futures edged up at the close of trade on Friday, but remained largely caught in a range as demand remained tepid.
* U.S. wheat futures sailed to their highest prices in more than a month on Friday on technical buying and expectations for increased U.S. exports as poor crop weather hurts harvests in other countries.
* Oil prices rose on Friday as a weakening dollar and lower expected August crude exports from Saudi Arabia supported the market, offsetting concerns about U.S.-China trade tensions and supply increases.
MARKET NEWS
* The dollar declined on Monday against major currencies to its lowest in more than two weeks after U.S. President Donald Trump criticised the Federal Reserve's tightening policy, while stocks slipped on fears of further trade protectionist measures.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's July 1-20 palm oil export data on July 25.
Cargo surveyor SGS releases Malaysia's July 1-20 palm oil export data on July 25. - Reuters