Malaysian palm oil/Vegoils: Market factors to watch Wednesday Sept 5
05.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Sept 5.
FUNDAMENTALS
* Malaysian palm oil futures rose to a two-month high on Tuesday evening, charting a third straight session of gains, as the Malaysian ringgit and the Indonesian rupiah weakened and related edible oils moved higher.
* U.S. wheat futures edged lower on Wednesday to extend losses into a second session, as fears of tighter global supplies eased after Russia said it saw no reason to restrict exports.
* Oil prices were little changed on Tuesday, as energy infrastructure on the U.S. Gulf Coast braced for a hurricane, but gains were capped as a stronger dollar and report of rising stockpiles at the Cushing, Oklahoma hub weighed.
MARKET NEWS
* Asian stocks tracked their global peers lower while the safe-haven dollar was broadly higher on Wednesday as worries over persistent trade conflicts curbed investor appetite for riskier assets.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-10 palm oil export data on Sept 10.
Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10. - Reuters