Malaysian palm oil futures slid for a third consecutive session on Monday, falling to its lowest since mid-November as slowing demand and expectations of higher supplies weighed on the market.
KUALA LUPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets . on Wednesday Aug 30
FUNDAMENTALS
* Malaysian palm oil futures fell by nearly 1 percent on Tuesday evening, hitting their lowest in a week under pressure from weakness in related edible oils as traders took profits ahead of a long holiday weekend.
* Chicago Board of Trade corn futures fell to contract lows for the fifth straight session on Tuesday on technical selling linked to the approaching harvest of a bumper U.S. crop, traders and analysts said.
* U.S. gasoline futures jumped 4 percent while crude prices were mixed on Tuesday after a hurricane shut down more than 19 percent of the country's refining capacity, curbing fuel production and further bloating crude inventories.
MARKET NEWS
* U.S. stocks rebounded from a sharply lower open on Tuesday and helped an index of global equity markets pare losses as investors shrugged off concerns over North Korea's latest missile test.
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DATA/EVENTS
Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31. - Reuters
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