Malaysian palm oil futures jumped by more than 1 percent to its highest in nearly a month on Tuesday, extending gains into a third session on strength in related edible oils and earlier weakness in the ringgit.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 24.
FUNDAMENTALS
* Malaysian palm oil futures reversed earlier losses to rise to their highest in nearly five months on Wednesday evening, charting a fourth day of gains, on a weaker ringgit and tracking gains in U.S. soyoil on the Chicago Board of Trade.
* U.S. soybean futures rose on Wednesday on worries about poor crop weather reducing yield potential in South America, analysts said, while traders continued to watch for any developments in U.S. trade relations with top global soy buyer China.
Limited time offer:
Just RM5 per month.
