Malaysian palm oil/Vegoils: Market factors to watch Wednesday Sept 19
19.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Sept 19.
FUNDAMENTALS
* Malaysian palm oil futures fell more than 2 percent on Tuesday evening to a one-month low on expectations of rising production.
* U.S. soybean futures fell to life-of-contract lows on Tuesday and the most actively traded contract Sv1 hit its lowest in a decade as an escalating U.S.-China trade war darkened U.S. export prospects, analysts said.
* Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signaled an informal target near current levels.
MARKET NEWS
* Global equity markets rallied on Tuesday as the latest tit-for-tat U.S.-Chinese trade dispute was seen as barely denting world growth, while U.S. Treasury yields rose in anticipation the Federal Reserve will hike interest rates this year and next.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
Cargo surveyor SGS releases Malaysia's Sept 1-20 palm oil export data on Sept 20. - Reuters