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NEWS ADMIN

DATE

08/02/2019

NEWS PROVIDER

Siti Safura Masiron

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Friday Feb 8

08.02.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 8.

 

FUNDAMENTALS

* Malaysian palm oil futures jumped 1.7 percent to a more than seven-month high on Thursday, tracking strength in overnight U.S. soyoil and on bullish forecasts for the vegetable oil, though the market pared gains towards the end of the session.

* U.S. soybean futures fell for the first time in five sessions on Thursday on new concerns that the U.S.-China trade war may stretch beyond a March 1 deal deadline, with the two countries' leaders unlikely to meet during upcoming talks.

* Oil fell about 2 percent on Thursday as the market was weighed down by concerns that global demand growth would lag in the coming year.

 

MARKET NEWS

* Stocks pulled back sharply around the world on Thursday on fears of a global growth slowdown spreading to Europe and worry about the chances for a resolution of U.S.-China trade tensions anytime soon, while the U.S. dollar strengthened for a sixth session against a basket of currencies.

 

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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/2019/02/08/palm-oil-market-factors-to-watch-feb-8/#msb4UES7MEEBDjH7.99