Malaysian palm oil/Vegoils: Market factors to watch Wednesday Sept 26
The Star Online (26/09/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Sept 26.
FUNDAMENTALS
* Malaysian palm oil futures edged up for a second consecutive session on Tuesday, tracking strength in crude oil prices and a weaker ringgit.
* U.S. soybean futures climbed to their highest in more than a month on Tuesday in a turnaround from recent declines that were driven by concerns about the U.S.-China trade dispute hurting American exports.
* Oil prices rose Tuesday on global supply concerns following U.S. sanctions on Iran's oil exports, with benchmark Brent surging to a four-year high, then retraced gains to settle just slightly higher after U.S. President Donald Trump called again on OPEC to boost crude output.
MARKET NEWS
* Energy stocks climbed on Tuesday as oil prices surged above $81 a barrel, but U.S. shares ended lower as chipmakes fell on ratings downgrades and rate-sensitive shares lost ground ahead of an expected Federal Reserve interest rate hike.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Sept 1-30 palm oil export data on Oct 1.
Cargo surveyor SGS releases Malaysia's Sept 1-30 palm oil export data on Oct 1. - Reuters