Malaysian palm oil/Vegoils: Market factors to watch Wednesday Nov 14
14.11.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Nov 14.
FUNDAMENTALS
* Malaysian palm oil futures fell over 1 percent on Tuesday evening to trade around three-year lows, tracking weakness in crude oil and on existing concerns over high palm stocks.
* U.S. corn futures fell more than 1 percent on Tuesday, following broad declines in commodities led by sagging crude oil futures, analysts said.
* Oil markets remained on a weak footing on Wednesday after a 7 percent slump the previous session, with surging supply and expectations of faltering demand pressuring crude prices.
MARKET NEWS
* Oil prices plunged 7 percent on Tuesday on persistent concerns of oversupply and weakening global demand, causing Wall Street stocks to reverse early gains that were driven by the resumption of trade talks between the United States and China.
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DATA/EVENTS
Cargo surveyor AmSpec releases Malaysia's Nov 1-15 palm oil export data on Nov 15.
Cargo surveyor SGS releases Malaysia's Nov 1-15 palm oil export data on Nov 15. - Reuters