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Malaysian palm oil/Vegoils: Market factors to watch Friday June 22


  • Palm Oil
  • Friday, 22 Jun 2018

Malaysian palm oil futures fell for a fourth straight day on Thursday, hitting a two-year low, as weak sentiment persisted due to concerns about a trade war between China and the United States and on losses in U.S. soyoil.

Malaysian palm oil futures fell for a fourth straight day on Thursday, hitting a two-year low, as weak sentiment persisted due to concerns about a trade war between China and the United States and on losses in U.S. soyoil.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 22.

FUNDAMENTALS

* Malaysian palm oil futures fell for a fourth straight day on Thursday, hitting a two-year low, as weak sentiment persisted due to concerns about a trade war between China and the United States and on losses in U.S. soyoil.

* Chicago soybean futures edged up on Friday but remained on track for their fourth week of decline, pressured by concerns over a trade war between Washington and Beijing.

* Oil prices rose by more than 1 percent in early Asian trading on Friday, pushed up by uncertainty over whether OPEC would manage to agree a production increase at a meeting in Vienna later in the day.

MARKET NEWS

* Stocks on world markets edged higher on Wednesday, following a recent sell-off on rapidly escalating China-U.S. trade tensions, while Treasury yields rose after the Federal Reserve chairman said the U.S. central bank should continue with a gradual pace of interest rate hikes.


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 OPEC strives for deal to raise oil output as Iran resists

DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's June 1-25 palm oil export data on June 25.

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

Palm Oil , Plantations , Markets

   

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