Malaysian palm oil/Vegoils: Market factors to watch Monday Apr 16
Source: Reuters Time:2018-04-16 10:04:59
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 16.
* 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.
* Share markets started firmer in Asia on Monday amid relief U.S.-led strikes on Syria looked like being a one-off event that avoided a direct confrontation with Russia, weighing on oil prices and safe-haven Treasuries.
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