Malaysian palm oil/Vegoils: Market factors to watch Thursday June 28
28.06.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday June 28.
FUNDAMENTALS
* Malaysian palm oil futures jumped to their highest in over a week on Wednesday evening, supported by forecasts of weaker output and stronger related edible oils.
* U.S. wheat futures rose on Wednesday on bargain buying after a three-session sell-off pushed the Chicago Board of Trade September contract WU8 to a one-week low, traders said.
* Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington's demands that importers stop buying Iranian crude from November.
MARKET NEWS
* Stock prices fell on most major markets on Wednesday even though the Trump administration modified its approach to curbing Chinese investment in the U.S. technology sector.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's June 1-30 palm oil export data on June 30.
Cargo surveyor SGS releases Malaysia's June 1-30 palm oil export data on June 30. - Reuters