Malaysian palm oil/Vegoils: Market factors to watch Thursday Sept 7
07/09/2017 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Sept 7.
FUNDAMENTALS
* Malaysian palm oil futures snapped four days of losses on Tuesday, tracking gains in rival edible oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity Exchange.
* U.S. corn futures hit a two-week high on Wednesday on a mix of short-covering and worries about the pace of U.S. crop maturity, traders said.
* Oil prices rose more than 1 percent on Wednesday as strong global refining margins and the reopening of U.S. Gulf Coast refineries provided a more bullish outlook after sharp drops due to
Hurricane Harvey.
MARKET NEWS
* U.S. shares rose on Wednesday and the dollar gained against the safe-haven Japanese yen as upbeat news out of Washington helped mitigate investors' concerns about North Korea's nuclear
weapons tests and a major hurricane barreling towards Puerto Rico and Florida.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10. – Reuters