Malaysian palm oil/Vegoils: Market factors to watch Monday Aug 13
The Star Online (13/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Mondau Aug 13.
FUNDAMENTALS
* Malaysian palm oil futures were down on Friday evening after official data release showed a rise in production, though losses were capped as the gain in stockpiles was below market expectations.
* U.S. soybean futures tumbled nearly 5 percent on Friday in the steepest single-day percentage drop in three years after the government projected larger-than-expected U.S. crop yields and said stocks of the oilseed would swell to record highs.
* Crude oil prices rose more than 1.0 percent on Friday as U.S. sanctions against Iran looked set to tighten supply, but futures contracts posted a weekly decline as investors worried that global trade disputes could slow economic growth and hurt demand for energy.
MARKET NEWS
* Asia share markets slipped and the euro hit one-year lows on Monday as a fresh fall in the Turkish lira fuelled demand for safe havens, including the U.S. dollar, Swiss franc and yen.
RELATED
Dalian bourse to cut margin requirements for soyoil, palm oil futures
US soybean cargo docks in Chinese port after weeks at anchor amid trade row
USDA expects record soy production, corn yields
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on Aug 15. - Reuters