Malaysian palm oil/Vegoils: Market factors to watch Monday Feb 27

Malaysian palm oil futures fell in late trade on Friday, charting a third straight session of declines, as they tracked weaker performing soyoils and slowing export demand.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 27.

FUNDAMENTALS

* Malaysian palm oil futures recovered in late trade on Friday on forecasts of stronger export data and short-covering ahead of the weekend.

* U.S. wheat futures fell to a two-week low on Friday and corn hit a 2-1/2-week low on technical selling including fund long liquidation, analysts said. 

* Oil prices fell about 1 percent on Friday as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.

MARKET NEWS

Asian stocks look set to edge lower for a second day on Monday as weak cues from U.S. share markets and declining European government bond yields on political worries push investors to take profits after a recent rally.

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DATA/EVENTS
 Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Mar 1.
 Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Mar 1.
- Reuters