Malaysian palm oil/Vegoils: Market factors to watch Monday Feb 18
The Star Online (18/02/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 18.
FUNDAMENTALS
* Malaysian palm oil futures fell over 1 percent on Friday, recording a fifth session of declines in six, tracking weakness in soyoil on the U.S. Chicago Board of Trade (CBOT).
* U.S. wheat futures fell to multimonth lows on Friday, despite broad strength in commodity and equity markets as grain traders monitored bearish technical signals as well as falling prices in the global cash wheat market.
* Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia's offshore oilfield boosted expectations for tightening supply, while progressing U.S.-Sino trade talks strengthened demand sentiment.
* Asian share markets firmed on Monday as investors dared to hope for both progress at Sino-U.S. trade talks in Washington this week and more policy stimulus from major central banks.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
Cargo surveyor SGS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.
Cargo surveyor ITS releases Malaysia's Feb 1-20 palm oil export data on Feb 20. - Reuters