30.01.2019 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 30.

FUNDAMENTALS

* Malaysian palm oil futures fell over 1 percent on Tuesday, retreating from seven-month highs hit the previous session on weakness in Chicago soyoil.

* U.S. wheat futures fell about 1 percent on Tuesday to their lowest in nearly two weeks on worries about a slow pace of export business, traders said.

* Oil prices gained more than 2 percent on Tuesday after the United States imposed sanctions on state-owned Venezuelan oil company PDVSA, a move likely to reduce the OPEC member's crude exports and relieve some global oversupply worries.

MARKET NEWS

* Gold hit an eight-month high while world stock markets were mixed ahead of further U.S.-Sino trade talks, a raft of technology company results, including Apple's, and a Federal Reserve decision on U.S. interest rates.

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 Iraq sees wheat crop up to 3 mln tonnes on better rainfall

DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's Jan 1-31 palm oil export data on Jan 31.

 Cargo surveyor SGS releases Malaysia's Jan 1-31 palm oil export data on Jan 31.

 Cargo surveyor ITS releases Malaysia's Jan 1-31 palm oil export data on Jan 31. – Reuters