The Federal Reserve will release minutes from its April meeting at which the Federal Open Market Committee said it would cut bond buying as the economy picks up after winter weather slowed first-quarter growth.
Palm oil may extend a rally as dry weather in the main growing regions in Southeast Asia spurs speculation of lower output growth just as biodiesel demand expands, according to hedge fund manager Michael Coleman.
Michael Coleman , who co-manages the $1.3 billion Merchant Commodity Fund , and his partner Doug King have bought a stake in a Singapore-based rubber trader, which had sales of about $1 billion last year.
Palm, the world’s most-consumed edible oil, will see prices influenced by a potential El Nino weather event and increased biodiesel demand from Indonesia, according to Dorab Mistry, director at Godrej International Ltd.
The drought parching Singapore and swaths of Malaysia and Indonesia threatens to raise food prices, slow economic growth and disrupt water supply in the region, home to the world’s oldest tropical rain forests.