Malaysian palm oil/Vegoils: Market factors to watch Tuesday Aug 28
The Star Online (28/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Aug 28.
FUNDAMENTALS
* Malaysian palm oil futures slipped to a more than one-week low on Monday evening, tracking weakness in related edible oils and as the ringgit strengthened.
* Chicago soybean futures slipped on Monday to their lowest in almost six weeks, falling for the fourth time in five sessions, as expectations of a record U.S. crop weighed on the market.
* Oil prices rose on Tuesday as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening market.
MARKET NEWS
* Asian shares advanced again on Tuesday while major currencies held on to gains amid hopes global tariff tensions were abating as the United States and Mexico made a deal to overhaul the North American Free Trade Agreement.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-25 palm oil export data on Aug 31.
Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 31. - Reuters