Malaysian palm oil/Vegoils: Market factors to watch Thursday Oct 4
The Star Online (04/10/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Oct 4.
FUNDAMENTALS
* Malaysian palm oil futures gained 1.8 percent on Wednesday, its largest intraday climb since Sept. 4, supported by rising crude oil prices.
* U.S. soybean futures eased on Wednesday in a technical selling setback following two days of gains despite concerns that rainy weather in parts of the Midwest would delay harvesting and possibly damage some crops.
* Brent crude rose nearly 2 percent after hitting a four-year high on Wednesday as the market focused on upcoming U.S. sanctions on Iran while shrugging off the year's largest weekly build in U.S. crude stockpiles and reports of higher Saudi Arabian and Russian production.
MARKET NEWS
* Stock markets around the world were up slightly on Wednesday amid signs that Italy would cut its budget deficits in coming years, but U.S. Treasuries yields hit multi-year highs after strong U.S. jobs data, while oil prices saw 4-year highs ahead of U.S. sanctions on Iran exports.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Oct 1-10 palm oil export data on Oct 10.
Cargo surveyor SGS releases Malaysia's Oct 1-10 palm oil export data on Oct 10. - Reuters