Crude palm oil being unloaded from tankers
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday April 26.
FUNDAMENTALS
* Malaysian palm oil futures had their weakest intraday performance in one week, snapping two straight sessions of gains, as a stronger ringgit MYR= and concerns over rising production weighed on the market.
* U.S. corn futures rose for a second straight session on Tuesday on a slower-than-average start to planting in the United States and forecasts for Midwest rains that will stall further progress.
* Oil prices settled slightly higher on Tuesday in volatile trading, then were mixed after hours when an industry group's preliminary report showed a surprise build in U.S. crude inventories.
MARKET NEWS
* Asian stocks extended gains for a fifth straight day on Wednesday as Wall Street hit new peaks while the euro consolidated recent gains as immediate concerns of political uncertainty in the euro zone receded.
RELATED
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Malaysia's Apr 1-25 palm oil exports fell 1.2 pct -SGS
DATA/EVENTS
Cargo surveyor ITS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
Cargo surveyor SGS releases Malaysia’s Apr 1-30 palm oil export data on May 1.
- Reuters
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