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Wednesday, 30 Aug, 2017

Malaysian palm oil/Vegoils: Market factors to watch Wednesday Aug 30

Malaysian palm oil futures fell by nearly 1 percent on Tuesday evening, hitting their lowest in a week under pressure from weakness in related edible oils as traders took profits ahead of a long holiday weekend.

KUALA LUPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets . on Wednesday Aug 30

FUNDAMENTALS
* Malaysian palm oil futures fell by nearly 1 percent on Tuesday evening, hitting their lowest in a week under pressure from weakness in related edible oils as traders took profits ahead of a long holiday weekend.
* Chicago Board of Trade corn futures fell to contract lows for the fifth straight session on Tuesday on technical selling linked to the approaching harvest of a bumper U.S. crop, traders and analysts  said.

* U.S. gasoline futures jumped 4 percent while crude prices were mixed on Tuesday after a hurricane shut down more than 19 percent of the country's refining capacity, curbing fuel production and further bloating crude inventories.

MARKET NEWS

* U.S. stocks rebounded from a sharply lower open on Tuesday and helped an index of global equity markets pare losses as investors shrugged off concerns over North Korea's latest missile test.

RELATED

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 Harvey's floods scatter cattle in Texas, swamp cotton fields
 French farmers face more losses this year if grain price slump continues

DATA/EVENTS
 Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
 Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31. - Reuters

Source : The Star

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