Malaysian palm oil/Vegoils: Market factors to watch Wednesday June 20
20.06.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 20.
FUNDAMENTALS
* Malaysian palm oil futures slumped as much as 3 percent on Tuesday evening to their lowest in two years, tracking weakness in related edible oils.
* U.S. soybean futures plunged to their lowest level in nearly a decade on Tuesday as escalating trade tensions between the United States and China, the world's biggest soy buyer, prompted fund-driven selling, analysts said.
* Oil prices rose in early Asian trading on Wednesday, supported by a drop in U.S. commercial crude inventories reported by the American Petroleum Institute (API).
MARKET NEWS
* Global stock markets fell with U.S. bond yields and agricultural commodities on Tuesday, while the dollar rose and investors flocked to safety in the face of a rapidly escalating U.S.-China trade conflict.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-20 palm oil export data on June 20.
Cargo surveyor SGS releases Malaysia's June 1-20 palm oil export data on June 20. - Reuters