KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday.
FUNDAMENTALS
* Malaysian palm oil futures inched up on Monday on expectations that healthy
exports will persist into September, fuelling hopes that end-stocks in the
world's No.2 producer will not spike for now.
* 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.
* Benchmark Brent crude oil prices eked out a small gain on Monday, reversing a
deep early slide amid upbeat economic data, North Sea output woes and a new
French report on Syria's use of chemical weapons.
MARKET NEWS
* A delay in potential U.S. military action in Syria and improving economic data
from China and Europe lifted world share markets on Monday and sent safe-haven
government bonds, gold and the Japanese yen lower.
* 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 6.5 percent-ITS
> Malaysia's August palm oil exports up 7.6 pct-SGS
> Cooler, wetter U.S. weather outlook drags down corn, soy
> Brazil's commodities exports rise over dry August
> For Wyoming town of one, rebirth as a hub for Vietnamese coffee
> China says to boost corn imports despite bumper harvest
> Protests by Thai rubber farmers force delays in shipments
> Syria tenders fail, raising doubt over Assad ability to buy food
> Indonesia's Sulawesi Aug cocoa exports rise 109 pct y/y -industry- Reuters
Limited time offer:
Just RM5 per month.
