Malaysian palm oil/Vegoils: market factors to watch Thursday April 25
The Star Online (25/04/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets .on Thursday April 25.
FUNDAMENTALS
* Malaysian palm oil futures recouped earlier losses to close flat at the end of the trading day on Wednesday, helped by gains in the U.S. soyoil and on prospects of improving export demand.
* U.S. corn futures fell to their lowest level in seven months on Wednesday and spot soybean futures hit a 5-1/2-month low on ample global supplies and dimming prospects for U.S. export business, analysts said.
* Oil prices hovered near six-month highs on Wednesday after data showed U.S. crude stockpiles surged to their highest levels since October 2017, countering fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.
MARKET NEWS
* The euro fell against the U.S. dollar on Wednesday after data showed a surprise deterioration in German business morale, raising fears of slowing global growth and weighing on a gauge of world equity markets, including Wall Street.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Apr 1-25 palm oil export data on Apr 25.
Cargo surveyor SGS releases Malaysia's Apr 1-25 palm oil export data on Apr 25.
Cargo surveyor ITS releases Malaysia's Apr 1-25 palm oil export data on Apr 25 . - Reuters