Malaysian palm oil/Vegoils: Market factors to watch Friday Feb 15
15 Feb 2019 (The Star Online) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 15.
FUNDAMENTALS
* Malaysian palm oil futures jumped more than 1 percent in the second half of trade on Thursday, ending the day higher on expectations of slowing February output in line with seasonal trend and improving exports.
* Chicago Board of Trade (CBOT) grains and soybean futures tumbled on Thursday on news that China and other buyers had canceled a flurry of U.S. soybean orders in early January and Argentina's soy crop could be larger than previously expected, traders said.
* Oil prices edged higher on Thursday and Brent hit the highest level this year, but gains were capped after the steepest decline in U.S. retail spending since 2009 heightened investor fears of a global economic slowdown.
* The steepest decline in U.S. retail sales since 2009 in December halted a broad rally in world stock markets on Thursday and pushed investors into the safety of government bonds.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.
Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15. - Reuters