Malaysian palm oil/Vegoils: Market factors to watch Friday Sept 21
21.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Sept 21.
FUNDAMENTALS
* Malaysian palm oil futures fell to a three-year low on Thursday, weighed down by expectations of rising production and end-stocks in producer nations Indonesia and Malaysia.
* U.S. corn futures climbed nearly 2 percent on Thursday, hitting a one-week high as higher-than-expected weekly export sales and prospects for U.S. harvest delays sparked a round of short-covering, analysts said.
* Oil prices eased on Thursday, pulling back after U.S. President Donald Trump urged OPEC to increase production at its meeting in Algeria, and slowing bullish momentum that had previously propelled the market toward four-year highs.
MARKET NEWS
* World stock markets rallied on Thursday, with the Dow and S&P 500 setting new highs, while the U.S. dollar slipped as investors viewed this week's fresh U.S. and Chinese tariffs on imports as less harsh than initially feared.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-25 palm oil export data on Sept 25.
Cargo surveyor SGS releases Malaysia's Sept 1-25 palm oil export data on Sept 25. - Reuters