Malaysian palm oil/Vegoils: Market factors to watch Thursday Jan 10


  • Palm Oil
  • Thursday, 10 Jan 2019

 Malaysian palm oil futures rose to an over two-month high on Wednesday evening, charting a second straight day of gains, as traders forecast declining production in the coming months and improving export data

Malaysian palm oil futures rose to an over two-month high on Wednesday evening, charting a second straight day of gains, as traders forecast declining production in the coming months and improving export data

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 10.

FUNDAMENTALS

* Malaysian palm oil futures rose to an over two-month high on Wednesday evening, charting a second straight day of gains, as traders forecast declining production in the coming months and improving export data.

* U.S. soybean futures rebounded on Wednesday, posting gains for the fifth session in six on hopes that China will accelerate its purchases of U.S. agricultural products following three days of trade talks with the United States this week.

* Oil prices dipped on Thursday on swelling U.S. supply, although the mood in global markets was increasingly confident amid hopes the United States and China may soon end trade disputes that have undermined global economic growth.

MARKET NEWS

* Stocks around the world extended recent gains and oil prices jumped on Wednesday on optimism the United States and China may be inching toward a trade deal, soothing fears of an all-out trade war and its possible impact on global growth.

RELATED

 Brazil soy crop view cut to 116.9 mln tonnes amid dry spell -AgRural

 EU trade chief says U.S. talks will not include agriculture

 COLUMN-Is China really on the brink of ramping up U.S. ag purchases? -Braun

 China's approval of DowDuPont soy poses challenge to Bayer

 Morgan Stanley cuts 2019 oil price view on high supplies, slowing China imports

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

Palm Oil , Markets , Plantations