Palm oil/Vegoils: Market factors to watch Aug 27 Wednesday


KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.
    
FUNDAMENTALS
* Malaysian palm oil futures failed to hold on to earlier gains and inched down
on Tuesday as worries of plentiful supplies of rival edible oils alongside
rising palm oil production continued to pressure prices. 
* Corn futures fell on Tuesday with the U.S. crop reported in the best shape in
two decades, reinforcing expectations of a record-large harvest. 
* U.S. crude rose on Tuesday as supportive U.S. economic data overshadowed
concerns about slowed growth in other oil consuming economies and ample global
oil supplies. 
    
MARKET NEWS
* Worldwide stock indexes rose modestly on Tuesday and European bond yields fell
on expectations of more stimulus from the European Central Bank, while strong
U.S. data on durable goods and consumer confidence underpinned U.S
shares. 
    
RELATED 
> Nil
    
    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release August palm oil export data on Sept. 2. 
    
  Palm, soy and crude oil prices at 0016 GMT
                                                                         
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      SEP4       0    +0.00       0       0       0
  MY PALM OIL      OCT4       0    +0.00       0       0       0
  MY PALM OIL      NOV4       0    +0.00       0       0       0
  CHINA PALM OLEIN JAN5    5196    +0.00    5116    5200  744198
  CHINA SOYOIL     JAN5       0    +0.00       0       0       0
  CBOT SOY OIL     DEC4   33.20    +0.03   33.10   33.22     697
  NYMEX CRUDE      OCT4   93.85    -0.01   93.75   93.96     772
                                                                         
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  Crude in U.S. dollars per barrel
 - Reuters

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