Malaysian palm oil/Vegoils: Market factors to watch Tuesday Jan 8
The Star Online (08/01/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Jan 8.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday, a second drop in four sessions, as traders remained cautious over official data due to be released by the industry regulator this week.
* U.S. soybean futures rose on Monday for a fourth straight session and notched a three-week high on concern about dry weather in Brazil and as trade talks between Washington and Beijing raised hopes of accelerated export purchases by China.
* Oil prices edged up on Tuesday, supported by hopes that U.S.-Chinese talks in Beijing would bring a halt to a trade dispute between the world's biggest economies, while the start of OPEC-led supply cuts also tightened markets.
MARKET NEWS
* An index of world stocks rose on Monday, adding to Friday's strong gains, on optimism about the outcome of trade talks between Washington and Beijing.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 10. - Reuters