KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday.
FUNDAMENTALS
* Malaysian palm oil futures lost earlier gains and ended lower on Wednesdaydue to a strong ringgit, while anxiety about swelling supplies of global edibleoils continued to drag.
* Nearby U.S. soybean futures rose after sinking to a four-year low onWednesday, while corn approached a four-year low set earlier this week onlimited demand for old-crop supplies ahead of massive U.S. harvests.
* Crude oil futures settled flat after choppy trading on Wednesday, following areport that showed declining U.S. gasoline demand in the world’s top oilconsumer and a build at the key Cushing, Oklahoma, storage hub.
MARKET NEWS
* Asian stocks crept up early on Thursday following another steady performanceby Wall Street shares which hovered near record highs, while the euro clung tomodest gains after rebounding from 13-month lows.
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DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillanceto release August palm oil export data on Sept. 2.
Palm, soy and crude oil prices at 0019 GMT
| Contract | Month | Last | Change | Low | High | Volume |
| MY PALM OIL | SEP4 | 0 | +0.00 | 0 | 0 | 0 |
| MY PALM OIL | OCT4 | 0 | +0.00 | 0 | 0 | 0 |
| MY PALM OIL | NOV4 | 0 | +0.00 | 0 | 0 | 0 |
| CHINA PALM OLEIN | JAN5 | 5194 | +2.00 | 5168 | 5210 | 288912 |
| CHINA SOYOIL | JAN5 | 0 | +0.00 | 0 | 0 | 0 |
| CBOT SOY OIL | DEC4 | 32.9 | +0.09 | 32.82 | 32.94 | 912 |
| NYMEX CRUDE | OCT4 | 93.76 | -0.12 | 93.72 | 93.78 | 384 |
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
Crude in U.S. dollars per barrel- Reuters
Source : The Star
