Malaysian palm oil/Vegoils: Market factors to watch Monday March 25

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 on Monday March 25.

FUNDAMENTALS

* Malaysian palm oil futures fell on Friday, snapping a week-long uptrend, as investors booked profits and weakness in soybean oil prices also weighed.

* U.S. corn futures rose to a 3-1/2-week high on Friday as China booked its largest purchase of the grain in more than 5 years and as flooding in the western U.S. Midwest raised concerns over spring planting.

* Oil fell about 2 percent on Friday, slipping further from 2019 highs as focus shifted to a lack of progress in U.S.-China trade talks and as grim manufacturing data from Germany and the U.S. reignited fears of a slowdown in the global economy and oil demand.

MARKET NEWS

* The Japanese yen hovered near a six-week high on Monday while Asian shares are expected to start lower as risk assets fell out of favour on growing worries about an impending U.S. recession, sending global bond yields plunging.

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DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia's Mar 1-25 palm oil export data on Mar 25.

Cargo surveyor SGS releases Malaysia's Mar 1-25 palm oil export data on Mar 25.

Cargo surveyor ITS releases Malaysia's Mar 1-25 palm oil export data on Mar 25.

- Reuters