Malaysian palm oil/Vegoils: Market factors to watch Tuesday Sept 5


  • Business
  • Tuesday, 05 Sep 2017

Kenanga Research, in its latest report, said planters with high plantations exposure in Peninsular Malaysia such as Sime Darby Bhd, IOI Corp Bhd, Kuala Lumpur Kepong Bhd (KLK), Felda Global Ventures Holdings Bhd (FGV) and United Malacca Bhd could see higher-than-average production growth trends

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Sept 5..

FUNDAMENTALS:

* Malaysian palm oil futures fell for a fourth straight session on Wednesday (Aug 30), ahead of a long weekend in Malaysia, due to expectations of a rise in inventories.

* U.S. corn futures fell on Friday on rising expectations of plentiful supplies from what should be a bumper Midwest harvest beginning later this month, analysts said.

* U.S. oil prices edged up on Tuesday as the gradual restart of Gulf of Mexico refineries following forced shutdowns due to Hurricane Harvey raised demand for crude, their most important feedstock.

MARKET NEWS * Stocks and the dollar fell on Monday while the Japanese yen, gold and sovereign bonds rose after North Korea's most powerful nuclear test to date dampened investor appetite for risk.

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China's Cofco to discontinue Brazil soy crushing plant

DATA/EVENTS

Cargo surveyor ITS releases Malaysia's Sept 1-10 palm oil export data on Sept 10

Cargo surveyor SGS releases Malaysia's Sept 1-10 palm oil export data on Sept 10. - Reuters

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