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NEWS ADMIN

DATE

03/04/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Wednesday April 3

3 Apr 2019 (The Star Online) KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday April 3.

FUNDAMENTALS

* Malaysian palm oil futures surged nearly 2 percent on Tuesday evening, tracking gains in related edible oils and on prospects of reduced stockpiles because of higher exports.

* MGEX spring wheat futures plunged 2 percent on Tuesday to their lowest levels since July 2018 on easing concerns about the weather in key growing areas and weakening cash prices, traders said.


* Oil prices on Tuesday hit their highest level so far in 2019, with Brent crude approaching $70 a barrel, on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut.

MARKET NEWS


* World stock markets were little changed on Tuesday but still managed to touch a six-month high as investors took a breather following a three-day run of gains while the possibility of tightening supply kept oil prices on the rise .

RELATED NEWS

Indonesia Feb palm oil exports rise 17 pct y/y - GAPKI

U.S. disaster aid won't cover crops drowned by Midwest floods > COLUMN-Current U.S. corn, soy supply calls for record use in coming months

 EPA waits on DOE input to process small refinery waivers for 2018 from U.S. biofuel law

DATA/EVENTS

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

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

 Cargo surveyor ITS releases Malaysia's Apr 1-10 palm oil export data on Apr 10. – Reuters


Read more at https://www.thestar.com.my/business/business-news/2019/04/03/palm-oil-market-factors-to-watch-april-3/#uzjGMkHKg3vzyVYX.99