02/08/2017 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Aug 2.

FUNDAMENTALS

* Malaysian palm oil futures dropped on Tuesday evening, falling from a near four-month high the previous session, due to expectations of a rise in production in the coming months.

* U.S. soybean futures fell more than 3 percent on Tuesday after an unexpected improvement in the condition of the U.S. crop eased concerns that recent hot weather would hurt yields.

*  Oil dropped about 2 percent from a two-month high on Tuesday as major world oil producers kept pumping out supply, causing investors to worry that several weeks of steady gains had

pushed the rally too far, too fast.

MARKET NEWS

* A gauge of world stocks advanced on Tuesday after scoring its longest monthly winning streak in over a decade on signs of an improving global economy and solid corporate earnings, while the

U.S. dollar bounced after touching 15-month lows.

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DATA/EVENTS

 Cargo surveyor ITS releases Malaysia’s July 1-31 palm oil export data on August 10.

 Cargo surveyor SGS releases Malaysia’s July 1-31 palm oil export data on August 10.

- Reuters