Malaysian palm oil/Vegoils: Market factors to watch Thursday Sept 27
The Star Online (27/09/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Sept 27.
FUNDAMENTALS
* Malaysian palm oil futures rose for a third consecutive session on Wednesday, but the rally may lose steam due to concerns about rising stockpiles, traders said.
* Bargain buying and a major sale of American soy to Mexico on Wednesday helped lift U.S. soybean futures for a second day, traders said, while corn and wheat futures slipped.
* Oil prices eased on Wednesday after U.S. data showed a surprise build in domestic crude inventories, but an impending drop in Iranian exports kept Brent futures above $80 a barrel and on track for a fifth straight quarterly gain.
MARKET NEWS
* A rally in U.S. equities fizzled out late on Wednesday, while the U.S. dollar rose, after the Federal Reserve raised interest rates, as expected, and flagged the end of its "accommodative" monetary policy.
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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