Malaysian palm oil.Vegoils: Market factors to watch Thursday Jan 5 - Business News | The Star Online

ADVERTISEMENT

Malaysian palm oil.Vegoils: Market factors to watch Thursday Jan 5


  • Palm Oil
  • Thursday, 5 Jan 2017

Malaysian palm oil futures fell on Wednesday evening after two sessions of gains, tracking weaker rival oilseed soy, though tight supplies because of lower output curbed further losses.

Malaysian palm oil futures fell on Wednesday evening after two sessions of gains, tracking weaker rival oilseed soy, though tight supplies because of lower output curbed further losses.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tursday Jan 5.

FUNDAMENTALS

* Malaysian palm oil futures fell on Wednesday evening after two sessions of gains, tracking weaker rival oilseed soy, though tight supplies because of lower output curbed further losses.

* U.S. soybean futures rose 1.9 percent on Wednesday on a round of bargain buying following three straight days of declines that pushed the benchmark contract to its lowest since mid-November, traders said. 

* Oil prices rose nearly 2 percent on Wednesday on expectations U.S. crude inventories have dropped and on signs that the world's top oil exporters will stick to agreed output cuts that took effect this week. 


MARKET NEWS

* Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve's December meeting suggested a less hawkish stance from policymakers.



RELATED
 Egypt to buy local wheat crop at global prices in coming season
 Argentina soy, corn sowing held back by recent downpours
 Vitol clinches $1 bln pre-finance oil deal with Iran-sources
 New Lebanese govt OKs oil decrees to start stalled tender process
 China suspends 11 researchers's licenses for GMO testing violations - ministry

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

ADVERTISEMENT