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Malaysian palm oil/Vegoils: Market factors to watch Monday Apr 16

April 16, 2018

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 16.

FUNDAMENTALS

* Malaysian palm oil futures closed 1 percent lower, a fifth consecutive day of losses, after Malaysia said it would resume an export tax and on expectations of slowing demand growth, traders said on Friday.

* U.S. wheat futures fell on Friday to a one-week low, pressured by forecasts for much-needed rain late next week in the southern Plains winter wheat belt, analysts said.

* Oil prices rose on Friday, making the largest weekly gain since July, supported by concerns about the possibility of Western military action in Syria and reports of dwindling global oil inventories.

MARKET NEWS

Malaysia sets May crude palm oil export tax at 5 pct after 4 months suspension

NOPA March U.S. soy crush seen at record 168.247 mln bushels -survey

COLUMN-Will Argentina’s soybean crop shrink even further?

Funds net sellers of CBOT corn, soybeans, wheat -traders

EU rapeseed crop conditions mixed but winter losses limited

DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia’s Apr 1-10 palm oil export data on Apr 16.

Cargo surveyor SGS releases Malaysia’s Apr 1-10 palm oil export data on Apr 16. – Reuters

Read more at https://www.thestar.com.my/business/business-news/2018/04/16/palm-oil-market-factors-to-watch-apr-16/#cBeO5BVHMQeH8keL.99

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