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NEWS ADMIN

DATE

12/03/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Tuesday March 12

The Star Online (12/03/2019) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

FUNDAMENTALS

* Malaysian palm oil futures edged lower on Monday after government data showed a higher than expected build up in stocks of the edible oil.

* U.S. wheat futures sank 2.7 percent to their lowest since January 2018 on Monday, pressured by plentiful stocks that were providing overseas buyers with multiple options for supplies when looking for export deals.

* Oil prices rose on Tuesday, lifted by output cuts led by producer group OPEC as well as healthy demand, although analysts said economic headwinds posed downside risks to crude markets.

MARKET NEWS

* Global equity markets surged on Monday, lifted by talk of more stimulus from China and by a broad rally on Wall Street that overcame a plunge in Boeing shares after one of its newest jets crashed, while U.S. debt yields rose on improved risk appetite.

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 Trump budget proposes steep subsidy cuts to farmers as they grapple with crisis

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DATA/EVENTS

 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


Read more at https://www.thestar.com.my/business/business-news/2019/03/12/palm-oil-market-factors-to-watch-march-12/#kagoUFH45ETobLDB.99