KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 13.
* Malaysian palm oil futures dropped more than 1 percent to their lowest in nearly two years on Tuesday, weighed down by the government's decision to maintain an export tax for July and due to
* U.S. wheat futures surged nearly 4 percent for the biggest gains in about a month on Tuesday after the U.S. Department of Agriculture slashed its estimate for production in top exporter Russia.
* Oil prices fell on Wednesday, pulled down by rising supplies in the United States and expectations that voluntary production cuts led by producer cartel OPEC could be loosened.
* Wall Street made modest gains on Tuesday while the U.S. dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited U.S.-North Korea summit aimed
at denuclearizing the Korean peninsula.
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Cargo surveyor AmSpec releases Malaysia's June 1-15 palm oil export data on June 18.
Cargo surveyor SGS releases Malaysia's June 1-15 palm oil export data on June 18. - Reuters