Malaysian palm oil futures recouped earlier losses to rise 1 percent on Friday, tracking strength in crude oil prices.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Jan 7.
FUNDAMENTALS
* Malaysian palm oil futures recouped earlier losses to rise 1 percent on Friday, tracking strength in crude oil prices.
* U.S. soybean futures climbed to a two-week high on Friday on optimism over U.S.-China trade talks planned for next week, coupled with declining estimates of the size of Brazil's developing crop, traders said.
* Oil prices started the week strongly on Monday, lifted by optimism that talks would soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.
MARKET NEWS
* Asian shares got off to a rousing start on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market's worst fears about the global outlook.
RELATED
Brazil soybean farmers brace for more crop losses - Aprosoja
U.S. delays key agriculture reports due to government shutdown
China to launch rubber, cotton and corn options on Jan 28
U.S. oil drillers cut rigs for first week in three -Baker Hughes
Singapore light distillate fuel stocks hit record high
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor SGS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Cargo surveyor ITS releases Malaysia's Jan 1-10 palm oil export data on Jan 10.
Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 10. - Reuters
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