Malaysian palm oil/Vegoils: Market factors to watch Tuesday July 24
The Star Online (24/07/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday July 24.
FUNDAMENTALS
* Malaysian palm oil futures declined on Monday, marking a second session of losses in three on concerns that production could rise in the coming weeks.
* U.S. wheat futures pulled back on Monday after approaching a six-week high on concerns about dry weather eating into harvests in some of the world's main exporting countries.
* Oil prices edged lower on Monday as the focus turned to oversupply worries, moving away from escalating tensions between the U.S. and Iran, which had driven prices higher early in the session.
MARKET NEWS
* Global bond markets were under strain on Tuesday amid talk of central bank tightening and the risk of a robust reading on U.S. economic growth later in the week, though stellar results from Alphabet could support tech stocks in Asia.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's July 1-25 palm oil export data on July 25.
Cargo surveyor SGS releases Malaysia's July 1-25 palm oil export data on July 25. - Reuters