Malaysian palm oil/Vegoils: Market factors to watch Friday Sept 28
28.09.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Sept 28.
FUNDAMENTALS
* Malaysian palm oil futures fell over 1 percent on Thursday after three consecutive sessions of gains, on expectations of rising inventory levels and technical selling.
* U.S. corn futures touched their highest prices in more than a month on Thursday on strong export demand and as traders adjusted positions ahead of a crop report expected to show supplies tightened over the past year.
* Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in five weeks.
MARKET NEWS
* The U.S. dollar held near a one-week high against a basket of major currencies on Thursday following an interest rise by the Federal Reserve on Wednesday, while robust economic growth and a rally in the shares of Apple Inc and Amazon.com Inc boosted the U.S. stock market.
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Saudi Arabia in short-term oil fix, fears extra U.S. supply next year
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