Malaysian palm oil/Vegoils: Market factors to watch Thursday Jan 25

Malaysian palm oil futures rose over 1 percent in their second half of trading on Wednesday, charting a third consecutive session of gains, as bullish sentiment on declining production lifted the market

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 25..

FUNDAMENTALS

* Malaysian palm oil futures rose over 1 percent in their second half of trading on Wednesday, charting a third consecutive session of gains, as bullish sentiment on declining production lifted the market.

* U.S. grain and soybean futures rose to their highest prices in weeks on Wednesday on technical buying, a slide in the U.S. dollar and dry weather in rival exporter Argentina.

* Oil prices rallied on heavy volume on Wednesday, boosted by a record 10th straight weekly decline in U.S. crude inventories, though reduced refining activity and rising production signaled U.S. stocks could rise in coming weeks.

MARKET NEWS

* The U.S. dollar extended its recent rout to hit three-year lows and gold rose to its highest level in 1-1/2 years on Wednesday after U.S. Treasury Secretary Steven Mnuchin said he welcomed
a weakening in the dollar.

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DATA/EVENTS

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

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