Malaysian palm oil/Vegoils: Market factors to watch Monday Aug 6
06.08.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Aug 6.
FUNDAMENTALS
* Malaysian palm oil futures were rangebound on Friday, as weakness in related edible oils and U.S.-China trade friction concerns dented sentiment, but prices edged higher at the end of the trading day.
* U.S. soybean futures staged a late-session short-covering recovery on Friday after touching a one-week low amid worries about an escalating trade war between the United States and China.
* Crude futures pulled back on Friday, giving up gains from the previous session as trade concerns weighed on the market and fueled concerns about demand.
MARKET NEWS
* Stocks around the world advanced on Friday on strong earnings, with consumer staples results boosting Wall Street, though a trade spat between the United States and China along with weaker-than-expected U.S. jobs numbers capped gains and weighed on the dollar.
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Heatwave ravages European fields, sending wheat prices soaring
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-10 palm oil export data on Aug 10.
Cargo surveyor SGS releases Malaysia's Aug 1-10 palm oil export data on Aug 10.
- Reuters