Malaysian palm oil/Vegoils: Market factors to watch Monday Feb 11


  • Palm Oil
  • Monday, 11 Feb 2019

Malaysian palm oil futures fell more than 1 percent on Friday, retreating from the previous session's seven-month high, hindered by a stronger ringgit and losses in U.S. soyoil on the Chicago Board of Trade.

Malaysian palm oil futures fell more than 1 percent on Friday, retreating from the previous session's seven-month high, hindered by a stronger ringgit and losses in U.S. soyoil on the Chicago Board of Trade.

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

FUNDAMENTALS

* Malaysian palm oil futures fell more than 1 percent on Friday, retreating from the previous session's seven-month high, hindered by a stronger ringgit and losses in U.S. soyoil on the Chicago Board of Trade.

* U.S. soybean futures ended firm on Friday as late-session short-covering lifted prices from lows notched after the U.S. Department of Agriculture (USDA) projected record large U.S. soy stocks amid a still-unresolved trade dispute with top importer China.

* Oil futures edged higher on Friday but ended the week with a loss on renewed concerns about slowing global demand and after the dollar posted its best week in six months.

MARKET NEWS

* Asian shares started the week on the backfoot on Monday as worries about global growth, U.S. politics and the ongoing Sino-U.S. tariff war kept investors cautious, while the safe-haven greenback held near a six-week top against major currencies.

RELATED

U.S. soy supplies surge, winter wheat acreage falls to 110-year low

Brazil farmers halt soy sales as real strengthens, China buys U.S. supplies

Funds net sellers of CBOT corn, buyers of wheat and soy -traders

U.S.-China trade talks to resume in Beijing -White House

DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's Feb 1-10 palm oil export data on Feb 11.

 Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 11.

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

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