Malaysian palm oil/Vegoils: Market factors to watch Thursday Dec 21


  • Business
  • Thursday, 21 Dec 2017

Malaysian palm oil futures fell on Wednesday evening, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Dec 21.

FUNDAMENTALS

* Malaysian palm oil futures fell on Wednesday evening, easing from gains made earlier in the day, as it fell on a stronger ringgit, its currency of trade.

* U.S. wheat futures rebounded on Wednesday to notch a 1-1/2-week high on worries about frigid weather across the Wheat Belt that threatens to damage crops lacking protective snow cover.

* Crude prices rose on Wednesday, supported by a larger-than-expected drop in U.S. inventories and the continued outage of the North Sea Forties pipeline system.

MARKET NEWS

* Major global stock markets fell slightly on Wednesday as investors took profits after record gains, while U.S. Treasury yields reached nine-month highs, as a $1.5 trillion tax bill cleared both chambers of the Republican-led U.S. Congress.

RELATED

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 Senator Cornyn trying to get Big Corn behind U.S. biofuels reform

 Brazil cane belt may idle 9 mln tonnes of crushing capacity next year

 Saudi energy minister: Premature to discuss changes in OPEC-led pact

 Russian oil firm Tatneft ran Crimea fuel station, despite sanctions risk

DATA/EVENTS

 Cargo surveyor ITS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.

 Cargo surveyor SGS releases Malaysia's Dec 1-25 palm oil export data on Dec 25.
- Reuters


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