Malaysian palm oil/Vegoils: Market factors to watch Thursday March 14

  • Business
  • Thursday, 14 Mar 2019

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.25% at 2,028 ringgit ($492.59) per tonne at the close of trade in its third straight session of gains. Earlier in the session, it rose as much as 1.3% to 2,030 ringgit, its strongest levels since June 21.

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


* Malaysian palm oil futures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production.

* U.S. wheat futures eased 1.2 percent on Wednesday, setting back on a mild round of profit taking after prices posted their biggest rally since last summer on Tuesday.

* Oil futures rallied about 2 percent on Wednesday as U.S. crude inventories unexpectedly fell and an official forecast of crude oil supply growth from the world's top producer was revised lower.


* World equity markets advanced broadly on Wednesday after U.S. data again showed risk-friendly low inflation, which weakened the dollar, while Boeing shares gained even as the United States said it would ground the company's 737 MAX aircraft.


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

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

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

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