KUALA LUMPUR: The following factors are likely toinfluence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures rose to a one-week high on Wednesday, supported by a recovery in export demand, although gains were capped by prospects of higher global oilseed supplies.
* U.S. crude oil futures settled nearly two percent higher as technical trading fuelled late-session gains, driving prices to their largest monthly percentage gain in nearly a year.
MARKET NEWS
* Wall Street stocks ended a volatile session near flat and the dollar surrendered gains on Wednesday after the U.S. Federal Reserve offered no indication that a reduction in the pace of its stimulus program is imminent.
* U.S. wheat futures rose for the fourth day in a row on Wednesday with bargain buyers stepping into what traders said was a technically weak market on concerns about production in key growing areas and a pick-up in export activity.
* Metals, oil and crop prices mostly rose on Wednesday on bullish U.S. data and the likelihood of ongoing Federal Reserve stimulus, although corn and soybeans posted steep monthly losses as July trade ended.
RELATED NEWS
> Malaysia's July palm exports up 4.2 percent-ITS
> Malaysia's July palm oil exports up 5.3 pct-SGS
> Argentine 2013/14 soy planting seen easily outpacing corn
> U.S. wheat up 1.4 pct; weather outlook blunts corn, soy gains
> Global coffee exports fall 9.5 pct in June
> India's 2012/13 refined palm oil imports could jump 69 pct to record
SEA DATA/EVENTS
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance will release Aug. 1-10 exports data on Aug. 12. - Reuters
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