Malaysian palm oil/Vegoils: Market factors to watch Tuesday Sept 18
18.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Sept 18.
FUNDAMENTALS
* Malaysian palm oil futures fell to a two week low on Friday over concerns of rising stocks, a stronger ringgit MYR= and weaker related edible oils.
* U.S. corn futures fell about 1 percent on Monday, with nearby months hitting contract lows as the harvest of a bumper crop picked up speed in the Midwest and early yield reports were strong, traders said.
* Oil prices were little changed on Monday as the market weighed deepening trade tension between the U.S. and China that is expected to dent global crude demand and potential supply tightening due to Iran sanctions.
MARKET NEWS
* U.S. stock futures dropped and Asian shares are expected to come under renewed pressure on Tuesday after U.S. President Donald Trump said he will impose 10 percent U.S. tariffs on about $200 billion worth of Chinese imports.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-20 palm oil export data on Sept 20.
Cargo surveyor SGS releases Malaysia's Sept 1-20 palm oil export data on Sept 20. - Reuters