Malaysian palm oil/Vegoils: Market factors to watch Friday Oct 5
05.10.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Oct 5.
FUNDAMENTALS
* Malaysian palm oil futures rose more than 1 percent on Thursday evening, charting a third straight session of gains, as they tracked overnight strength in U.S. soyoil and drew support from a weaker ringgit.
* U.S. corn futures firmed on Thursday on concerns that several days of rainy weather expected across the U.S. Midwest could disrupt harvesting of what is forecast to be a bumper U.S. crop.
* Oil prices rose on Friday, lifted by looming U.S. sanctions against Iran's crude exports that are set to start next month.
MARKET NEWS
* A two-day unloading of U.S. Treasuries pushed their yields to multiyear peaks on Thursday as robust economic data and hawkish speeches by Federal Reserve officials stoked concerns about inflation, hitting Wall Street and stock markets globally.
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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