KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday May 22.
FUNDAMENTALS
* Malaysian palm oil futures rebounded from early losses on Friday, to rise for a second session in three on expectations of increasing export demand.
* U.S. corn futures rose nearly 2 percent on Friday and notched a one-week high as worries about cool temperatures and excessive rains in the Midwest prompted traders to cover short positions ahead of the weekend, analysts said.
* Oil prices rose on Friday, closing out a second week of gains on growing expectations that OPEC and other producing countries will agree next week to extend output cuts.
MARKET NEWS
* The U.S. dollar fell on Friday and was set to close its worst week in more than a year, with losses steepening after reports an investigation into possible collusion between Russia and Donald Trump's presidential campaign now include a person close to the President.
RELATED
Deere raises 2017 forecast on strong farm equipment demand
ADM Brazil unit completes $85 mln Santos port investment
EU wheat prices ease as strong euro dents outlook for exports
Ukraine 2017 spring grain sowing 94 pct complete
DATA/EVENTS
Cargo surveyor ITS releases Malaysia’s May 1-25 palm oil export data on May 25.
Cargo surveyor SGS releases Malaysia’s May 1-25 palm oil export data on May 25. - Reuters
Already a subscriber? Log in.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!