Malaysian palm oil futures edged up on Tuesday, coming off a more than one-week low hit earlier as higher overseas sales underpinned prices.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Aug 17.
FUNDAMENTALS
* Malaysian palm oil futures fell for a third straight day on Wednesday, tracking losses in soyoil overnight on the Chicago Board of Trade.
* Chicago Board of Trade wheat futures sank to contract lows on Wednesday as ample global supplies provided overseas buyers with cheaper alternatives to U.S. offerings in export deals, traders said.
* Oil prices edged up early on Thursday, clawing back some ground after losses in the previous
session.
MARKET NEWS
* Asian stocks edged up on Thursday as tensions between the U.S. and North Korea came off the
boil, while worries about President Donald Trump's ability to implement his pro-growth agenda
and the Federal Reserve's concerns about low U.S. inflation hit the dollar.
RELATED
China buyers sign deals for 3.8 mln tonnes U.S. soy -trade group
Argentina 2017-18 corn area seen at record 5.4 mln hectares -exchange
Malaysia keeps September crude palm oil export tax at 5.5 pct
India's 2016/17 wheat output seen at record 98.38 mln T-minister
Egypt's GASC says buys 355,000 tonnes of Russian, Ukraine wheat
DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Aug 1-20 palm oil export data on August 20.
Cargo surveyor SGS releases Malaysia's Aug 1-20 palm oil export data on August 20. - Reuters
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
