Malaysian palm oil/Vegoils: Market factors to watch Tuesday Aug 14
The Star Online (14/08/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Aug 14.
FUNDAMENTALS
* Malaysian palm oil futures registered its sharpest daily decline in a month on Monday evening, falling for a third straight day on weakness in soyoil on the Chicago Board of Trade.
* U.S. soybean futures turned higher on Monday after touching their lowest levels in over three weeks on expectations that domestic inventories will pile up due to a record harvest and the ongoing trade dispute with Beijing.
* Oil prices fell on Monday after data suggested inventories at the U.S. crude delivery hub rose in the latest week, compounding worries that troubled emerging markets and trade tensions will dent the outlook for fuel demand.
MARKET NEWS
* Asia share markets tried to regain their footing on Tuesday as tremors from the collapse of the Turkish lira ebbed a little and Wall Street proved resilient to the shockwaves.
RELATED
Malaysia cuts Sept crude palm oil export tax to 0 pct
China unloads U.S. soybean cargo amid worries about cost of trade war
COLUMN-Crop Watch: Strong yields on tap, though the U.S. north eyes rain
Wilmar Q2 profit surges on oilseeds and grains business
DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Aug 1-15 palm oil export data on Aug 15.
Cargo surveyor SGS releases Malaysia's Aug 1-15 palm oil export data on Aug 15. - Reuters