Malaysian palm oil futures recorded their biggest daily gain in two weeks on Thursday, ending six sessions of losses as they tracked strength in soyoil and were helped by a technical correction.

Malaysian palm oil futures recorded their biggest daily gain in two weeks on Thursday, ending six sessions of losses as they tracked strength in soyoil and were helped by a technical correction.

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

FUNDAMENTALS
* Malaysian palm oil futures recorded their biggest daily gain in two weeks on Thursday, ending six sessions of losses as they tracked strength in soyoil and were helped by a technical correction.
* Chicago Board of Trade wheat futures dropped 3.1 percent to their lowest in nearly four months on Thursday, with investors beating back an overnight rally attempt amid plentiful global supplies.
* Oil prices ended mixed on Thursday after a seesaw trading session, as investors weighed rising U.S. production against geopolitical uncertainties and comments from leading Gulf oil producers that an extension to OPEC-led supply cuts was likely.

MARKET NEWS
* Stocks on major markets rose along with the euro on Thursday as a market-friendly presidential candidate led in opinion polls ahead of elections in France on Sunday.

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 Brazil’s JBS to resume slaughtering at six idle beef units next week

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


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