Palm oil/Vegoils: Market factors to watch Thursday Sept 20
20.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Sept 20.
FUNDAMENTALS
* Malaysian palm oil futures hit their lowest in nearly two months on Wednesday, tracking declines in related edible oils and as traders expect higher stockpiles in producer nations.
* U.S. soybean futures rose roughly 2 percent on Wednesday, rebounding a day after the most active contract fell to a 10-year low as the harvest of a likely record-large U.S. crop got under way, analysts said.
* U.S. oil futures surged nearly 2 percent on Wednesday as they were bolstered by a fifth weekly crude inventory drawdown and strong domestic gasoline demand amid ongoing global supply concerns over U.S. sanctions on Iran that come into force in November.
MARKET NEWS
* World stock markets rallied for a second straight day on Wednesday, while safe-haven assets such as U.S. bonds and the Japanese yen slipped to multi-week lows on bets the ongoing U.S.-China trade spat would inflict less damage than feared.
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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