Malaysian palm oil/Vegoils: Market factors to watch Friday Sept 7
07.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Sept 7.
FUNDAMENTALS
* Malaysian palm oil futures fell for a second straight session on Thursday in its sharpest daily decline in a week on bearish production and inventory forecasts for August, while weakness in related edible oils also weighed.
* Chicago Board of Trade wheat futures fell for the third day in a row to their lowest in more than seven weeks on Thursday on expectations that U.S. supplies will continue to struggle to gain traction on the global export market, traders said.
* Crude futures reversed course, falling more 1 percent on Thursday after U.S. data showed gasoline inventories rose unexpectedly last week, overshadowing a bullish drawdown in crude.
MARKET NEWS
* Asian shares slipped to a 14-month trough on Friday as investors feared a new round of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech sector.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-10 palm oil export data on Sept 12.
Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 12. - Reuters