Malaysian palm oil/Vegoils: Market factors to watch Thursday March 7

March 7, 2019 editor Markets, Palm Oil, Plantations

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday March 7.

FUNDAMENTALS

* Malaysian palm oil futures eased on Wednesday evening on bearish price and production forecasts at an industry conference in Kuala Lumpur.

* U.S. corn and soybean futures fell roughly 1 percent on Wednesday and wheat slipped nearly 3 percent on sluggish export demand for U.S. grains and a lack of news on U.S.-Chinese trade negotiations, traders said.

* Oil prices eased on Thursday, dragged down by record U.S. crude output and rising commercial fuel inventories.

MARKET NEWS

* A gauge of global stocks lost ground for a third straight session on Wednesday, unable to build momentum from a jump in Chinese equities, while the Canadian dollar weakened after a dovish turn by the Bank of Canada.

PREVIEW-Malaysia Feb palm oil stockpiles seen at 4-month low -Reuters survey

COLUMN-Much work ahead if U.S. grain exporters hope to meet gov’t target

Canada’s Richardson disputes China claim of ‘hazardous pests’ in canola

Egypt’s GASC says buys 42,000 tonnes of soyoil in tender

Key Brazil soybean road leading to northern ports closed until Friday

DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia’s Mar 1-10 palm oil export data on Mar 11.

Cargo surveyor SGS releases Malaysia’s Mar 1-10 palm oil export data on Mar 11.

Cargo surveyor ITS releases Malaysia’s Mar 1-10 palm oil export data on Mar 11. – Reuters

Source : TheStar