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Malaysian palm oil/Vegoils: Market factors to watch Thursday July 19


  • Palm Oil
  • Thursday, 19 Jul 2018

Malaysian palm oil futures jumped more than 2 percent to a one-week high on Wednesday evening, as the ringgit weakened and related edible oils recovered.

Malaysian palm oil futures jumped more than 2 percent to a one-week high on Wednesday evening, as the ringgit weakened and related edible oils recovered.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday July 19.

FUNDAMENTALS

* Malaysian palm oil futures jumped more than 2 percent to a one-week high on Wednesday evening, as the ringgit weakened and related edible oils recovered.

* U.S. grain and soybean futures touched their highest prices in about a week on Wednesday, as agricultural markets stabilized following recent drops to contract lows.

* Oil prices rose on Wednesday after U.S. government data indicated bullish demand for gasoline and distillates, which overshadowed a surprise build in U.S. crude inventories and U.S. crude oil production hitting 11 million bpd for the first time.

MARKET NEWS

* Stocks on major world markets climbed to a one-month high on Wednesday after a raft of strong corporate earnings, while the U.S. dollar hit a three-week high against major currencies.

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DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's July 1-20 palm oil export data on
July 20.

 Cargo surveyor SGS releases Malaysia's July 1-20 palm oil export data on July
20. - Reuters

Palm Oil , Plantations , Markets

   

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