Malaysian palm oil/Vegoils: Market factors to watch Friday Jan 11


In a filing with Bursa Malaysia, IJM said pursuant to the agreement, IPS and the individual shareholder would own 20% and 5% stakes in PT PSS respectively, while KLKPH would own a majority of 75%.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Jan 11

FUNDAMENTALS

* Malaysian palm oil futures declined at their sharpest daily rate in two weeks by the end of trade on Thursday, snapping two sessions of gains, on bearish official data on December inventories, production and exports.

* U.S. soybean futures dropped nearly 2 percent on Thursday, the steepest slide since Nov. 26, reversing a week of gains due to a lack new purchases by China following trade talks with the United States.

* Crude prices edged higher on Thursday, supported by comments from the U.S. Federal Reserve chairman that lifted equity markets, but a more than week-long oil rally slowed as optimism surrounding U.S.-China trade talks faded.

MARKET NEWS

* An index of world stock markets rose on Thursday as worries over the lack of clear signs of a resolution to the U.S.-China trade spat were offset by an assurance by Federal Reserve Chairman Jerome Powell that the U.S. central bank has the ability to be patient on monetary policy.

RELATED

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 Norway cuts oil output forecast for 2019 to 30-year low

 COLUMN-Asian refiners lose in crude tug-of-war between OPEC+ and Trump:Russell

 EXCLUSIVE-Glencore loses exclusive rights to major Libyan oil grades


DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia's Jan 1-15 palm oil export data on Jan 15.

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

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

Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 15. - Reuters


   

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