Malaysian palm oil/Vegoils: Market factors to watch Friday Aug 3
The Star Online (03/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Aug 3..
FUNDAMENTALS
* Malaysian palm oil futures fell on Thursday evening, snapping three previous days of gains, tracking losses in soyoil and on the back of trade war concerns.
* U.S. wheat futures surged to three-year highs on Thursday on concerns about tightening global supplies and reduced shipments from key suppliers, but the market closed well below the peaks as major exporter Ukraine denied it would ban exports.
* Oil prices strengthened Thursday, with U.S. crude gaining nearly 2 percent after traders saw an industry report suggesting domestic crude stockpiles would soon decline again after a surprise rise in the latest week.
MARKET NEWS
* An intensifying trade dispute between the United States and China weighed on global stocks and bond yields on Thursday, but a rise in Apple shares took its valuation above a record $1 trillion and helped major U.S. indexes close in positive territory.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-10 palm oil export data on Aug
10.
Cargo surveyor SGS releases Malaysia's Aug 1-10 palm oil export data on Aug 10. - Reuters