Malaysian palm oil/Vegoils: Market factors to watch Tuesday April 9
09.04.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday April 9.
FUNDAMENTALS
* Malaysian palm oil futures retreated from a six-week top on Monday evening, falling over 1 percent to snap five sessions of gains, tracking weaker soybean oil prices on the U.S. Chicago Board of Trade and in a technical correction.
* U.S. corn futures declined on Monday as traders adjusted positions a day ahead of a monthly supply-and-demand report from the U.S. Department of Agriculture in which the government is expected to raise its forecast of U.S. corn ending stocks.
* Oil prices rose up to 2 percent on Monday, hitting five-month highs on expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and U.S. sanctions against Iran and Venezuela.
MARKET NEWS
* A gauge of global equities edged higher on Monday as another drop in Boeing shares and concerns U.S. companies will report a decline in earnings for the first time in three years were offset by rising crude prices that lifted oil shares.
RELATED
U.S. 'not satisfied yet' in China trade talks -White House official
Indonesia, Malaysia mount protest to EU over palm curbs
POLL-U.S. corn planting seen 2 pct complete; wheat ratings steady
Russian wheat export prices stable on favourable crop conditions
French rapeseed farmers destroyed 18,000 hectares over GMO risk - Bayer
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-10 palm oil export data on Apr10.
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