Palm oil/Vegoils: Market factors to watch Sept 12 Friday


KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.
    
FUNDAMENTALS
* Malaysian palm oil futures rose to a more-than-three-week high on Thursday,
lifted by hopes that demand might be picking up after a jump in exports,
although caution over palm stocks that have swollen past 2 million tonnes kept a
lid on gains. 
* U.S. corn and soybean futures tumbled to four-year lows on Thursday as the
U.S. government raised its forecasts for record-large harvests above analysts'
estimates. 
* Brent crude rose and broke a string of five straight lower finishes on
Thursday, climbing back from a two-year low hit after increasing supply and
signs of weakening demand countered worries that conflicts in the Middle East
could curb output. 
    
MARKET NEWS
*  U.S. stocks closed little changed on Thursday and the dollar dipped slightly
against the euro, as data showing more Americans tapping unemployment benefits
muddied views on when U.S. policymakers might first raise interest
rates. 
    
RELATED 
> World food prices hit near four-year low in August-FAO         
> Big crop gets bigger: USDA raises U.S. corn, soybean estimates 
> USDA sees no impact on Mexican sugar imports from duty decision 
    
> Early freeze looms for some crops amid U.S. bumper grain forecast 
 
> China to sign U.S. soybean trade agreements next week          
> Argentine port customs workers to strike next week - chamber   
> Frost hits crops in Canadian province of Alberta               
> Pesticides a concern for aquatic life in most U.S. urban streams -study 
 
    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release Sept. 1-15 palm oil export data on Sept. 15

  Palm, soy and crude oil prices at 0010 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    5158    +8.00    5152    5188  189602
  CHINA SOYOIL     JAN5       0    +0.00       0       0       0
  CBOT SOY OIL     DEC4   31.83    +0.12   31.65   31.83     593
  NYMEX CRUDE      OCT4   93.01    +0.18   93.00   93.09     910
                                                                        
  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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