Malaysian palm oil/Vegoils: Market factors to watch Wednesday June 14

Malaysian palm oil futures came off near three-month lows to trade higher on Tuesday evening on concerns about a decline in February production, traders say.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jue 14

FUNDAMENTALS
* Malaysian palm oil futures hit a 10-month low in the second half of trade on Tuesday on the back of a stronger ringgit, while expectations of rising output and weaker export growth also weighed on the market.

* U.S. wheat futures ticked higher on Wednesday, supported by continued concern over potential production losses following recent adverse weather.

* Oil prices fell by one percent early on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back.

MARKET NEWS
* Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day.

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DATA/EVENTS
 Cargo surveyor ITS releases Malaysia’s June 1-15 palm oil export data on June 15.
 Cargo surveyor SGS releases Malaysia’s June 1-15 palm oil export data on June 15.
- Reuters