Malaysian palm oil/Vegoils: Market factors to watch Friday Aug 3

Malaysian palm oil futures saw their sharpest fall in seven weeks on Friday evening, weighed down by weak export demand and losses in related edible oils on the U.S. Chicago Board of Trade and China's Dalian Commodity Exchange.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Aug 3..

FUNDAMENTALS

* Malaysian palm oil futures fell on Thursday evening, snapping three previous days of gains, tracking losses in soyoil and on the back of trade war concerns.

* U.S. wheat futures surged to three-year highs on Thursday on concerns about tightening global supplies and reduced shipments from key suppliers, but the market closed well below the peaks as major exporter Ukraine denied it would ban exports.