[Back]   [Comments]  [Print]

NEWS ADMIN

DATE

07/12/2018

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Friday Dec 7

The Star Online (07/12/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Dec 7.

FUNDAMENTALS

* Malaysian palm oil futures recovered from a one-week low hit earlier on Thursday as traders forecast slowing output amid some short-covering.

* U.S. soybean futures fell for the first time in five sessions on Thursday as the arrest of a senior executive at China's Huawei Technologies Co Ltd HWT.UL stoked concerns about a U.S.-China trade truce that has yet to produce a resumption of U.S. soybean sales to China.

* U.S. oil prices stabilised on Friday, buoyed by a fall in U.S. crude oil inventories, but sentiment remained weak as producer group OPEC postponed a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia.

MARKET NEWS
* Asian share markets tried to find their footing on Friday as speculation the
Federal Reserve might be "one-and-done" with U.S. rate hikes helped salve some
wounds after a punishing week.

RELATED

Argentina soybean exports may hit record high next year-exchange

Egypt's GASC buys 350,000 tonnes of wheat - trade

Noble Group's $3.5 bln restructuring at risk as authorities block new listing

OPEC tentatively agrees oil cut, waits for Russia to commit

Malaysian uncertainties complicate Aussie miner Lynas' growth plans

DATA/EVENTS

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

> Cargo surveyor SGS releases Malaysia's Dec 1-10 palm oil export data on Dec 10. - Reuters

Read more at https://www.thestar.com.my/business/business-news/2018/12/07/palm-oil-market-factors-to-watch-dec-7/