Malaysian palm oil futures recovered from a one-week low hit earlier on Thursday as traders forecast slowing output amid some short-covering.
U.S. soybean futures fell for the first time in five sessions on Thursday as the arrest of a senior executive at China’s Huawei Technologies Co Ltd HWT.UL stoked concerns about a U.S.-China trade truce that has yet to produce a resumption of U.S. soybean sales to China.
U.S. oil prices stabilised on Friday, buoyed by a fall in U.S. crude oil inventories, but sentiment remained weak as producer group OPEC postponed a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia.
MARKET NEWS
Asian share markets tried to find their footing on Friday as speculation the
Federal Reserve might be “one-and-done” with U.S. rate hikes helped salve some
wounds after a punishing week.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia’s Dec 1-10 palm oil export data on Dec 10.
