Malaysian palm oil/Vegoils: Market factors to watch Monday April 1
The Star Online (01/04/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 1.
FUNDAMENTALS
* Malaysian palm oil futures edged down at the close of trade on Friday, recording a fifth session of losses in six and tracking weakness in China's Dalian Commodity Exchange, traders said.
* U.S. corn futures tumbled more than 4 percent on Friday in the market's steepest drop in nearly three years after the U.S. Department of Agriculture (USDA) estimated U.S. stocks and projected spring plantings above nearly all trade estimates.
* Oil prices rose about 1 percent on Friday, posting their biggest quarterly rise in a decade, as U.S. sanctions against Iran and Venezuela as well as OPEC-led supply cuts overshadowed concerns over a slowing global economy.
MARKET NEWS
ADVERTISING
* Asian stocks rose on Monday, as signs of progress in U.S.-China trade talks and firmer Wall Street shares supported sentiment, although another defeat for British Prime Minister Theresa May's proposed Brexit deal added to the pound's recent woes.
RELATED
Commodity prices, investment poised to extend upswing
EXCLUSIVE-More than 1 million acres of U.S. cropland ravaged by floods
U.S. corn, soy stocks top forecasts; floods threaten planting plans
EU raises forecasts for 2018/19 wheat exports, maize imports
U.S. crude output eases from record to 11.9 mln bpd in Jan -EIA
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-10 palm oil export data on Apr 10.
Cargo surveyor SGS releases Malaysia's Apr 1-10 palm oil export data on Apr 10.
Cargo surveyor ITS releases Malaysia's Apr 1-10 palm oil export data on Apr 10. - Reuters