Malaysian palm oil/Vegoils: Market factors to watch Monday Oct 1
01.10.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil market on Monday Oct 1.
FUNDAMENTALS
* Malaysian palm oil futures recovered from earlier losses on Friday evening, edging up to end the trading day higher, as the market rose on a supportive price outlook by an industry analyst.
* U.S. grain futures slumped on Friday after the U.S. Department of Agriculture said farmers and crop handlers had more supplies in storage than analysts expected.
* Oil prices rose more than 1 percent on Friday, with Brent climbing to a four-year high, as U.S. sanctions on Tehran squeezed Iranian crude exports, tightening supply even as other key exporters increased production.
MARKET NEWS
* The U.S. dollar rose on Friday as the euro fell on deepening worries about an Italian budget with a higher-than-expected deficit target, which also slammed European stocks.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10. - Reuters