Malaysian palm oil/Vegoils: Market factors to watch Tuesday March 5
5 Mar 2019 (The Star Online) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday March 5.
FUNDAMENTALS
* Malaysian palm oil futures fell on Monday, retreating from their highest level in a week following a forecast of ballooning production for 2018-2019 compared with the preceding period.
* Chicago soybean futures climbed on Monday amid news reports that Beijing and Washington are close to settling a lingering trade dispute, a breakthrough that could boost China's demand for U.S. soy and other agricultural products.
* Oil prices rose about 1 percent on Monday as the United States and China appeared closer to ending a trade war that has slowed global economic growth while OPEC ally Russia said it would ramp up its crude supply cuts.
MARKET NEWS
* Asian shares stepped back on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Mar 1-10 palm oil export data on Mar 11.
Cargo surveyor SGS releases Malaysia's Mar 1-10 palm oil export data on Mar 11.
Cargo surveyor ITS releases Malaysia's Mar 1-10 palm oil export data on Mar 11. - Reuters