Malaysian palm oil/Vegoils: Market factors to watch Monday Dec 10
The Star Online (10/12/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Dec 10.
FUNDAMENTALS
* Malaysian palm oil futures closed lower on Friday, falling for a second week, weighed down by weakness in related edible oils and crude oil.
* U.S. soybean futures firmed for the fifth time in six sessions on Friday on solid weekly export sales data and short-covering ahead of the weekend as the market waited for signs that China may soon resume purchases from the United States.
* International oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January.
MARKET NEWS
* Stocks extended their slump in early Asian trade on Monday, with U.S. equity futures off to a softer start for the week as worries over U.S.-China trade tensions battered investor sentiment.
RELATED
China November soybean imports plunge 38 pct y/y on tariff war
EXCLUSIVE-Brazil's Bolsonaro brokering deal to end trucker, farmer feud
Bunge preparing to replace CEO Schroder-WSJ - Reuters