Malaysian palm oil/Vegoils: Market factors to watch Monday Nov 26
26.11.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Nov 26.
FUNDAMENTALS
* Malaysian palm oil futures edged lower on Friday as traders awaited industry production data for the first 20 days of the month before taking any fresh positions.
* U.S. wheat futures topped one-week highs on Friday on hopes for improved export demand after sales to Egypt, while corn and soybean futures slumped.
* Oil prices slumped up to nearly 8 percent to the lowest in more than a year on Friday, posting the seventh consecutive weekly loss, amid intensifying fears of a supply glut even as major producers consider cutting output.
MARKET NEWS
* Asian shares were on a slippery slope on Monday as plunging oil prices fanned worries about a dimming outlook for the global economy as investors brace for a crucial meeting between U.S. and Chinese leaders at the end of week.
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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