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NEWS ADMIN

DATE

13/03/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Market factors to watch Wednesday March 13

The Star Online (13/03/2019) - KUALA LUMPUR, March 13 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday March 13.

FUNDAMENTALS

* Malaysian palm oil futures dipped again on Tuesday, losing earlier gains made on rising crude oil prices.

* U.S. wheat futures jumped 5.5 percent on Tuesday, rebounding from contract lows on a round of technical buying and bargain hunting in an oversold market, traders said.

* Oil prices edged higher on Tuesday, supported by signs of tightening global supply after a Saudi official said the kingdom plans to cut oil exports in April, while the U.S. government reduced its forecast for domestic crude output growth.

MARKET NEWS

* A gauge of world equity markets rose and the dollar eased on Tuesday after a tame reading on U.S. inflation reinforced expectations the Federal Reserve will not raise interest rates anytime soon, while Boeing shares slid for a second day.

RELATED

 CERAWEEK-Pompeo calls on oil industry to support U.S. foreign policy agenda

 Trafigura shipping about 1 mln barrels of Asian gasoline, blendstocks to S.America

 EIA cuts forecast for 2019 U.S. crude output growth

 Spread betting: Metal speculators see China tax cuts kicking in from May

 Trump's EPA unveils plan to pump up ethanol as Big Oil cries foul

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/2019/03/13/palm-oil-market-factors-to-watch-march-13/#wVAbzcgt41UgMYkA.99