Malaysian palm oil/Vegoils: Market factors to watch Friday Aug 17
The Star Online (17/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Aug 17.
FUNDAMENTALS
* Malaysian palm oil futures reversed early losses to end higher on Thursday due to short covering, though traders said market sentiment was still bearish on trade and currency concerns.
* U.S. soybean futures climbed to one-week highs on Thursday as plans for Beijing and Washington to hold fresh trade talks raised hopes for U.S. soy sales to China after being stalled by a tariff dispute.
* Oil rose slightly as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though a weakening outlook for crude demand kept prices in check.
MARKET NEWS
* U.S. stocks and emerging market currencies rebounded on Thursday after China said it will hold trade talks with the United States this month and Turkey's lira continued its recovery.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-20 palm oil export data on Aug 20.
Cargo surveyor SGS releases Malaysia's Aug 1-20 palm oil export data on Aug 20. - Reuters