Malaysian palm oil/Vegoils: Market factors to watch Thursday Aug 2
The Star Online (02/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Aug 2.
FUNDAMENTALS
* Malaysian palm oil futures rose over 1 percent on Wednesday evening, a third straight day of gains, on the back of technical buying and as the market turned bullish on forecasts that the world's top palm importer India is likely to receive below-normal monsoon rains in 2018.
* U.S. soybean futures fell on Wednesday on worries that U.S. President Donald Trump would intensify a trade battle with China, the world's biggest importer of the oilseed.
* Oil prices fell about 2 percent on Wednesday as a surprise increase in U.S. crude stockpiles fed concerns about global oversupply, while investors worried that trade tensions could hit energy demand.
MARKET NEWS
* Stocks fell worldwide on Wednesday on persistent fears of an escalation of the trade war between the United States and China although robust results from Apple Inc helped cap losses and the Federal Reserve left U.S. interest rates untouched.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-10 palm oil export data on Aug
10.
Cargo surveyor SGS releases Malaysia's Aug 1-10 palm oil export data on Aug
10. - Reuters