Malaysian palm oil/Vegoil: Market factors to watch Wednesday Sept 12
12.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Sept 12.
FUNDAMENTALS
* Malaysian palm oil futures charted a third consecutive session of losses on Friday evening, tracking weaker edible oils and on expectation that production will rise in the coming weeks, traders said.
* U.S. wheat futures fell 2 percent on Tuesday, their fifth decline in the last six sessions, as investment funds cut their risk exposure to the grain following a surprise short-covering rally on Monday, traders said.
* Oil prices rose more than 2 percent on Tuesday as U.S. sanctions squeezed Iranian crude exports and after U.S. crude oil production in 2019 was forecast to grow at a slower rate than previously expected, prompting supply concerns.
MARKET NEWS
* A broad index of world stock markets posted gains for a second straight day on Tuesday, as investors piled into U.S. technology and energy stocks even as a trade war loomed.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-15 palm oil export data on Sept 15.
Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 15. - Reuters