Malaysian palm oil market factors to watch Tuesday Feb 19

RAM also said the increase in Indian import duties on rival soybean oil in June 2018 was also expected to reverse the downtrend in palm oil exports for Malaysia and Indonesia.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 19.

FUNDAMENTALS

* Malaysian palm oil futures edged higher during Monday trade, charting a second session of gains in three days, bolstered by strength in related edible oils and expected weaker output.

* U.S. wheat futures fell to multimonth lows on Friday, despite broad strength in commodity and equity markets as grain traders monitored bearish technical signals as well as falling prices in the global cash wheat market.

* U.S. oil prices hit a three-month high on Tuesday, buoyed by production cuts led by the Organization of the Petroleum Exporting Countries.

MARKET NEWS

* Asian shares hovered near a four-month peak on Tuesday, supported by hopes that Sino-U.S. trade talks were making positive progress and expectations of policy stimulus from central banks.

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 UK's Gove: Govt will use tariffs, quotas to protect farmers after Brexit

DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's Feb 1-20 palm oil export data on Feb 20.

 Cargo surveyor SGS releases Malaysia's Feb 1-20 palm oil export data on Feb 20.

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