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NEWS ADMIN

DATE

04/02/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Monday Feb 4

The Star Online (04/02/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 4.

FUNDAMENTALS

* Malaysian palm oil futures fell on Thursday, after data from a cargo surveyor showed exports grew more slowly than expected in January.

* The most-active U.S. soybean futures contract Sv1 reached its highest level since June on Friday on news of fresh U.S. soy sales to China, but the market pared gains as traders considered plentiful global supplies.

* Oil prices rose about 3 percent on Friday on upbeat U.S. jobs data and signs that U.S. sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly data showed U.S. drillers cut the number of oil rigs.

MARKET NEWS

* Asia stocks were barely moved on Monday, staying near a four-month high after Wall Street's tepid pre-weekend performance, while the dollar was supported against the yen following strong U.S. jobs and manufacturing data.

RELATED

 China's COFCO buys million-tonne batch of U.S. soybeans

 'Good vibe' U.S.-China trade talks followed by soybean purchases

 Russia may restrict Brazil soybean imports - Brazil Ag Ministry

 Brazil soy crop view cut to 112 mln T; exports to fall further -FCStone

 EU rapeseed harvest seen hitting new low in 2019 after sowing woes


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 1-10 palm oil export data on Feb 11. - Reuters


Read more at https://www.thestar.com.my/business/business-news/2019/02/04/palm-oil-market-factors-to-watch-feb-4/#X4SEYbMtXvWEfVYg.99