Malaysian palm oil/Vegoils: Market factors to watch Wednesday June 14


Malaysian palm oil futures came off near three-month lows to trade higher on Tuesday evening on concerns about a decline in February production, traders say.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jue 14

FUNDAMENTALS
* Malaysian palm oil futures hit a 10-month low in the second half of trade on Tuesday on the back of a stronger ringgit, while expectations of rising output and weaker export growth also weighed on the market.

* U.S. wheat futures ticked higher on Wednesday, supported by continued concern over potential production losses following recent adverse weather.

* Oil prices fell by one percent early on Wednesday after data showed a build in U.S. crude stocks and OPEC reported a rise in its production despite its pledge to cut back.

MARKET NEWS
* Asian shares crept higher on Wednesday after Wall Street notched another all-time high, while the dollar and bonds awaited clarity on the Federal Reserve's future path for U.S. policy after a likely rate rise later in the day.

RELATED
 Egyptian court suspends food inspection system meant to ease trade
 Brazil center-south produces 1.75 mln T of sugar in late May
 OPEC sees oil market rebalancing at slower pace, says output rises
 Hog farmer Guangdong Wen's to take stake in COFCO Capital
 Global energy demand stumbles for third year - BP

DATA/EVENTS
 Cargo surveyor ITS releases Malaysia’s June 1-15 palm oil export data on June 15.
 Cargo surveyor SGS releases Malaysia’s June 1-15 palm oil export data on June 15.
- Reuters

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