Malaysian palm oil/Vegoils: Market factors to watch Thursday Jan 17
The Star Online (17/01/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 17.
FUNDAMENTALS
* Malaysian palm oil futures edged down on Wednesday, though remained range-bound, tracking weakness in soyoil overnight on the U.S. Chicago Board of Trade (CBOT) and crude oil prices.
* U.S. corn futures firmed on Wednesday in a bargain-buying and short-covering bounce as the market's steep drop to six-week lows in the previous session triggered renewed demand for the feed grain.
* Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production.
MARKET NEWS
* Asian shares crept higher on Thursday as upbeat bank earnings bolstered Wall Street, while an anti-climactic end to the latest chapter in the Brexit saga gave sterling a moment's peace.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-20 palm oil export data on Jan 21.
Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 21
Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 21
Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 21. - Reuters