Business News

Tuesday, 3 January 2017 | MYT 9:04 AM

Malaysian palm oil/Vegoils: Market factors to watch Tuesday Jan 3

Malaysian palm oil futures rose in late trade on Friday to close the year up 25.1 percent for the strongest annual gain since 2010.

Malaysian palm oil futures rose in late trade on Friday to close the year up 25.1 percent for the strongest annual gain since 2010.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Jan 3.

FUNDAMENTALS

* Malaysian palm oil futures rose in late trade on Friday to close the year up 25.1 percent for the strongest annual gain since 2010. 

* U.S. wheat futures firmed on Friday on better-than-expected export data and short-covering at year's end, analysts said, but the market still posted an annual decline of about 13 percent.


* Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years. 


MARKET NEWS

* Euro zone stocks opened 2017 by climbing to their highest in more than a year on Monday after data showed manufacturers in the currency bloc ramped up activity at the fastest pace in more than five years. 


RELATED
 Trump leaning toward Georgia ex-gov for agriculture head -official
 Tax cut seen lifting soy planting in No.3 exporter Argentina
 Malaysia's Dec palm oil exports fall 5.7 pct -ITS
 Factory activity expands again in Vietnam, contracts in Indonesia, Malaysia
 Oil, metals post stellar 2016 gains on output cuts, demand hopes

DATA/EVENTS
 Cargo surveyor ITS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
 Cargo surveyor SGS releases Malaysia's Dec 1-31 palm oil export data on Jan 10.
- Reuters

Tags / Keywords: Palm Oil , Plantations , Commodities , Stocks , Earnings , Economy , Corporate News , Forex , Investing , Markets

Property Related

advertisement

advertisement

advertisement