KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and
other vegetable oil markets on Monday.
FUNDAMENTALS
* Malaysian palm oil futures eased on Friday as investors booked profits from
this week's rally that was fuelled by forecasts of dry weather in the
soy-producing U.S. Midwest, although healthy demand and a still-weak ringgit
stemmed the decline.
* U.S. soybean futures sank to a one-week low on Friday on forecasts for rain
and cooler temperatures to relieve stressful crop conditions across the U.S.
Midwest grain belt.
* Brent crude oil fell in volatile trade on Friday ahead of a long holiday
weekend in the United States, as the Obama administration made a case for a
"limited" strike against Syria.
MARKET NEWS
* Stocks fell and U.S. Treasury prices gained on Friday after Secretary of State
John Kerry made a forceful case for the United States to punish Syrian President
Bashar al-Assad as he released evidence the Syrian government used chemical
weapons to attack civilians.
* Oil and gold prices fell again on Friday after Britain refused to back a
U.S.-led military strike on Syria, but both markets ended August sharply higher
after rallying with other commodities in recent weeks.
RELATED NEWS
> Malaysia's August palm exports up 7.5 percent-ITS
> Emerging currency crisis boosts sugar exports, pressures price
> Cooler, wetter U.S. weather outlook drags down corn, soy
> USDA sells to biofuel firm at loss in sugar-for-ethanol program
> IGC raises global wheat, maize 2013/14 forecasts - Reuters
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