Palm oil/Vegoils: Market factors to watch Sept 3 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 edged up on Tuesday, lifted by gains in overseas
soy oil markets and on better-than-expected exports in August, although concerns
about higher edible oil supplies kept prices near five-and-a-half-year lows.
 
* U.S. grains fell on Tuesday, with wheat futures down more than 1 percent on
pressure from plentiful global supplies and selling by investment funds on the
first trading day of the month, analysts said. 
* Brent crude oil futures fell to the lowest level in 16 months on Tuesday,
pressured by the prospect of slowing oil demand growth in China and Europe,
while a strong dollar and ample supplies pushed U.S. prices to a seven-month
low. 
    
MARKET NEWS
* The dollar rose to its highest this year against the yen on Tuesday on strong
U.S. manufacturing and construction data, while the euro slipped to a 12-month
low on speculation the European Central Bank will move toward looser monetary
policy. 
    
RELATED 
> Malaysia's August palm exports down 4.8 pct m/m-ITS       
> Malaysia's August palm oil exports fell 5.0 pct-SGS       
> U.S. corn, soy seen stable, eye on maturity -analysts       
> USDA sets tariff rate quota for raw sugar at WTO minimum  
> Colombia seeks to increase cocoa exports in short-supplied market
 
> Argentine farmers see grains surge if next president opens market
 
> Cargill buying ADM's chocolate unit in North American expansion
 
    

DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Sept. 1-10 palm oil export data on Sept. 10
> Industry regulator the Malaysian Palm Oil Board (MPOB) to release data on
Malaysia's end-August palm oil stocks, exports and production on Sept. 10.
    
  Palm, soy and crude oil prices at 0019 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    5218   +52.00    5172    5238  274422
  CHINA SOYOIL     JAN5       0    +0.00       0       0       0
  CBOT SOY OIL     DEC4   32.13    +0.01   32.12   32.20     667
  NYMEX CRUDE      OCT4   93.11    +0.23   93.08   93.28    1806
                                                                             
  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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