Malaysian palm oil/Vegoils: Market factors to watch Monday Aug 27
The Star Online (27/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Aug 27.
FUNDAMENTALS
* Malaysian palm oil futures ended Friday marginally higher, averting a third straight session of declines, supported by a technical correction and strength in U.S. soyoil prices.
* Chicago soybean futures lost ground on Monday as expectations of a record U.S. crop weigh on the market, while wheat slid for a sixth straight session on lack of demand.
* Oil prices gained more than 1 percent on Friday, ending a run of weekly declines on signs that Iran sanctions may limit global supply and that a trade war may not curb China's appetite for U.S. crude.
MARKET NEWS
* Asian shares rose early on Monday, taking support from Wall Street's gains on Friday after U.S. Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the U.S. economy and job growth.
RELATED
Malaysia's Aug 1-25 palm oil exports fall 9 pct - AmSpec Malaysia
Malaysia's Aug 1 - 25 palm oil exports fall 9.4 pct -ITS
U.S. wants quick progress on EU trade issues, officials say
German ministry sees big drop in grains crop due to drought
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25. - Reuters