February 11, 2015

VEGOILS-Market factors to watch Feb 10


The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
  • Malaysian palm oil futures fell on Monday after a 4-day winning streak, traders said, with concerns over sluggish export demand in February adding pressure.
  • U.S. corn and soybean futures edged higher on Monday, lifted by investor short-covering and position-squaring ahead of the monthly U.S. Department of Agriculture supply and demand report due on Tuesday.
  • Oil jumped for a third straight session on Monday as OPEC forecast greater demand for crude this year than previously thought and projected less supply from countries outside the producer group.
  • Stock indexes worldwide slipped on Monday on fears of Greece leaving the euro zone and concerns over conflict in Ukraine, while oil prices surged after an optimistic demand forecast from OPEC.
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