Malaysian palm oil/Vegoils: Market factors to watch Tuesday Feb 14


  • Plantations
  • Tuesday, 14 Feb 2017

Malaysian palm oil futures fell on Tuesday, its seventh straight losing session, as bearish palm fundamentals and declining rival oils weighed on the market. (Worker load and arrange palm oil fruits on top of a lorry inside a palm oil factory area in Sungai Besar, Selangor on Monday June 13, 2016.- FAIHAN GHANI/The Star)

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 14.

FUNDAMENTALS

* Malaysian palm oil futures on Monday hit a two-week low, recording a second straight session of declines, as prices were weighed down by prospects of improving levels in production.

* U.S. wheat futures rallied for the fifth day in a row on Monday, hitting a 7-1/2-month high as investment funds continue to add the grain to their portfolio despite ample global supplies.


* Oil prices declined on Monday by about 2 percent, the most since mid-January, pressured by a stronger dollar and signs of rising U.S. crude output.


MARKET NEWS

* A gauge of global equity markets advanced on Monday and bond yields rose as investors flocked to assets likely to benefit from reflationary policies that are expected to be implemented by U.S. President Donald Trump.


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-sources

DATA/EVENTS
 Cargo surveyor ITS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.
 Cargo surveyor SGS releases Malaysia’s Feb 1-15 palm oil export data on Feb 15.- Reuters
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