Malaysian palm oil/Vegoils: Market factors to watch Thursday Feb 16

Lower production: Export of palm oil products declined by 8.2% in 2016 to 23.29 million tonnes from 25.37 million tonnes a year ago, mainly due to lower production.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Feb 16.

* Malaysian palm oil futures saw their strongest daily gains in nearly two weeks on Wednesday after hitting a near three-month low in the previous session, aided by positive export numbers.

* Chicago Board of Trade soybean, corn and wheat futures firmed on Wednesday, recovering from weakness in the overnight trading session on a round of technical buying, traders said.  


* Oil prices eased slightly on Wednesday in choppy trade as record high U.S. crude and gasoline inventories fed concerns about a global glut.


* A gauge of major world markets climbed to a record on Wednesday and U.S. Treasury yields rose as a strengthening economic outlook and recent commentary by Federal Reserve officials increased expectations of an interest rate hike in March.

 Malaysia's Feb 1-15 palm oil exports fell 3.6 pct -SGS
 India's Jan vegoil imports drop 19 pct y/y to 1 mln T - trade body
 India to produce record 272 mln T food grains in 2016/17- govt
  Egypt's GASC cancels vegoil purchase tender - trade
 Cargo surveyor ITS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
 Cargo surveyor SGS releases Malaysia’s Feb 1-20 palm oil export data on Feb 20.
- Reuters
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