Malaysian palm oil/Vegoils: Market factors to watch Thursday Nov 22
The Star Online (22/11/2008) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Nov 22.
FUNDAMENTALS
* Malaysian palm oil futures ended Wednesday's trade higher as a recovery in crude oil prices buoyed sentiment.
* U.S. soybean futures turned higher on Wednesday on optimism that Washington and Beijing will make progress at the upcoming G20 leaders summit toward resolving the trade dispute that has disrupted American exports of the oilseed.
* Oil markets started Thursday timidly, with rising U.S. crude inventories pressuring prices but an expected supply cut by producer cartel OPEC offering some support.
MARKET NEWS
* Asian shares stepped ahead cautiously on Thursday while oil rebounded from a steep sell-off, though rising U.S. interest rates and escalating trade tensions kept financial markets on edge amid signs of slackening global growth.
RELATED
U.S. soybean futures rise on hopes of US-China trade deal at G20
Paris wheat steady before U.S. break, imports the focus in Germany
Deere Says U.S. Farmer And Dealer Sentiment Remains Cautiously Optimistic
EU rapeseed sowings disrupted by drought, more imports possible
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Nov 1-25 palm oil export data on Nov 26.
Cargo surveyor SGS releases Malaysia's Nov 1-25 palm oil export data on Nov 26. - Reuters