Malaysian palm oil/Vegoils: Market factors to watch Tuesday Mar 21

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KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday March 21.

FUNDAMENTALS
* Malaysian palm oil futures on Monday slipped to a second session of declines in three on weaker export data, while March output is expected to improve from a month ago.
* U.S. wheat futures fell on Monday, led lower by a 1.9 percent drop in K.C. hard red winter wheat forecasts for improving weather for crop development in key U.S. growing areas.

* Oil prices slipped on Monday, despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories.

MARKET NEWS
* The U.S. dollar slumped to a six-week low on Monday on worries over a dovish Federal Reserve, while U.S. and European stock markets dipped amid concerns about G20 financial leaders’ decision to drop a pledge to keep global trade free and open.

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DATA/EVENTS
Cargo surveyor ITS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
Cargo surveyor SGS releases Malaysia’s Mar 1-25 palm oil export data on Mar 25.
– Reuters-STAR

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