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Malaysian palm oil/Vegoils: Market factors to watch Thursday Feb 15


  • Palm Oil
  • Thursday, 15 Feb 2018

Malaysian palm oil futures fell late on Wednesday, charting a second day of declines, tracking overnight falls in U.S. soyoil on the Chicago Board of Trade (CBOT) and on a stronger ringgit.

Malaysian palm oil futures fell late on Wednesday, charting a second day of declines, tracking overnight falls in U.S. soyoil on the Chicago Board of Trade (CBOT) and on a stronger ringgit.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Feb 15.

FUNDAMENTALS

* Malaysian palm oil futures fell late on Wednesday, charting a second day of declines, tracking overnight falls in U.S. soyoil on the Chicago Board of Trade (CBOT) and on a stronger ringgit.

* U.S. corn and soybean futures firmed on Wednesday, stabilizing near recent highs on persistent concerns about dry weather in Argentina hurting crops as they pass through key stages of development, traders said.

* Oil prices rallied on Wednesday, shaking off earlier weakness as U.S. crude stocks rose less than expected and Saudi Energy Minister Khalid al-Falih said major oil producers would prefer tighter markets than end supply cuts too early.

MARKET NEWS

* Treasury prices plunged on Wednesday after a spike in U.S. consumer prices in January raised expectations the Federal Reserve may quicken the pace of interest rate hikes, while global stocks rallied as investors took inflation in stride.

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DATA/EVENTS

 Cargo surveyor ITS releases Malaysia's Feb 1-15 palm oil export data on Feb 15.

 Cargo surveyor SGS releases Malaysia's Feb 1-15 palm oil export data on Feb 15. - Reuters

Palm Oil , Plantations , Markets

   

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