Malaysian palm oil/Vegoils: Market factors to watch Thursday Nov 15
15.11.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Nov 15.
FUNDAMENTALS
* Malaysian palm oil futures fell below the 2,000 ringgit level for the first time in three years on Wednesday, weighed down by losses in related edible oils on China's Dalian Commodity Exchange and lower than forecast year-end inventory levels.
* U.S. soybean futures rose on Wednesday on a slower-than-expected harvest pace and news of fresh export sales, although plentiful global supplies kept a lid on the market, analysts said.
* U.S. oil prices fell on Thursday, resuming declines after an industry group said U.S. inventories had risen more than expected and shrugging off a report that OPEC and other producers plan to cut output.
MARKET NEWS
* Asian stocks edged up on Thursday as a steep slide in crude oil prices which had chilled investor sentiment slowed, while the pound and euro were supported after British Prime Minister Theresa May gained cabinet support for a Brexit deal.
RELATED
Malaysia doubles palm oil imports from Indonesia amid high stocks
Brazil record soy exports to China could expand further -official nL4N1XP5YI]
World needs more U.S. wheat, China can hold off on U.S. soy -traders
Global oil market faces surplus throughout 2019 as demand growth slows
Worried by oil slump, OPEC and partners discuss larger supply curbs - sources
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15. - Reuters