Malaysian palm oil/Vegoils: Market factors to watch Monday Jan 15

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

FUNDAMENTALS

  • Malaysian palm oil futures fell by more than 1 percent on Friday evening, extending a sharp decline from the previous session to hit their lowest in nearly two weeks, tracking weakness in related edible oils as the ringgit strengthened.
  • Chicago wheat futures tumbled nearly 3 percent on Friday, notching their biggest daily decline since August, after the U.S. Department of Agriculture showed larger-than-expected U.S. winter wheat plantings.
  • Oil prices dipped on Monday as rising drilling activity in the United States pointed to higher future output, although output cuts led by OPEC and Russia as well as healthy demand kept crude near December 2014 highs reached last week.

Source : The Star

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