Malaysian palm oil/Vegoils: Market factors to watch Thursday June 15

• Jun 15, 2017

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday June 15.

FUNDAMENTALS
* Malaysian palm oil futures bounced back on Wednesday from a 10-month low hit in the previous session, tracking a stronger performance in soyoil on the Chicago Board of Trade and China’s Dalian Commodity Exchange.
* U.S. grain and soy futures were mostly lower on Wednesday, with MGEX spring wheat declining from an earlier 2-1/2-year high on pressure from technical selling and forecasts for crop-friendly rainfall, traders and analysts said.
* Crude oil prices slumped nearly 4 percent to their lowest close in seven months on Wednesday, hit by an unexpected large build in gasoline inventories and an international outlook that suggests a big increase in supply in the coming year.

MARKET NEWS

* U.S. stock futures dipped and Asian shares were on the defensive on Thursday after a media report that U.S. President Donald Trump is being investigated by a special counsel for possible obstruction of justice.

RELATED
 Dow launches new GMO corn after landing China import approval
 Sucden forecasts sugar surplus of 3.5 million tonnes in 2017/18
 U.S. beef speeds to China by air as trade deal ends 14-year ban
 Raw sugar slips to 16-month low as funds add shorts
 Oil supply seen outpacing consumption in 2018, demand to top 100 mln bpd

DATA/EVENTS
 Cargo surveyor ITS releases Malaysia’s June 1-15 palm oil export data on June 15.
 Cargo surveyor SGS releases Malaysia’s June 1-15 palm oil export data on June 15.
– Reuters

Source: http://www.thestar.com.my/business/business-news/2017/06/15/palm-oil-market-factors-to-watch-june-15/#gio4QLALhXzPvXSJ.99