Malaysian palm oil/Vegoils: Market factors to watch Friday Jan 18


  • Palm Oil
  • Friday, 18 Jan 2019

Malaysian palm oil futures reversed losses in its second half of trade on Thursday, rising to a one-week peak as sentiment turned bullish on higher price forecasts from an industry conference.

Malaysian palm oil futures reversed losses in its second half of trade on Thursday, rising to a one-week peak as sentiment turned bullish on higher price forecasts from an industry conference.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Jan 18.

FUNDAMENTALS

* Malaysian palm oil futures reversed losses in its second half of trade on Thursday, rising to a one-week peak as sentiment turned bullish on higher price forecasts from an industry conference.

* U.S. corn, soybean and wheat futures climbed for a second straight session on Thursday in a short-covering and technical bounce following a steep drop earlier this week.

* Oil prices steadied on Thursday, boosted by a rebound in U.S. equities and news that OPEC sharply curtailed production in December, after earlier losses on fears about surging U.S. crude output and weakening global demand.

MARKET NEWS

* Asian stocks gained early on Friday, as hopes for a thaw in the U.S.-China trade conflict fed investor appetites for risk assets.

RELATED

 CPO prices seen increasing to 2,200-2,300 rgt/T by June - McGill

 Indonesia's palm oil output seen rising 10 pct in 2019 - GAPKI

 Malaysia plans to double palm oil use in biodiesel by 2020 - govt


DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's Jan 1-20 palm oil export data on Jan 21

 Cargo surveyor SGS releases Malaysia's Jan 1-20 palm oil export data on Jan 21

 Cargo surveyor ITS releases Malaysia's Jan 1-20 palm oil export data on Jan 21.

 Industry regulator the Malaysian Palm Oil Board releases Malaysia's December palm oil data on Jan 21. - Reuters

Palm Oil , Markets , Plantations