Malaysian palm oil/Vegoils: Market factors to watch Tuesday Sept 4

Malaysian palm oil futures climbed to a six-week high in evening trade on Tuesday, charting a third session of gains in four, tracking overnight strength in U.S. soyoil and crude oil prices.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday September 4.

FUNDAMENTALS
* Malaysian palm oil futures rose on Monday in a second session of gains, supported by a weaker ringgit and better demand prospects.

* U.S. corn and soybean futures rose on Friday as traders covered short positions ahead of a long holiday weekend, but both commodities posted monthly declines as prospects for large U.S. harvests weighed on prices.

* Oil prices rose on Monday, supported by concerns that falling Iranian output will tighten markets once U.S. sanctions bite from November, but gains were limited by higher supply from OPEC and the United States.

MARKET NEWS
* Global stock markets fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies.

RELATED

Argentine farmers seen delaying wheat sales under new tax regime

Brazil court overturns ban on weed-killer glyphosate

China bans pig shipments from areas hit by African swine fever

Russia meets grain traders, sees no need to limit exports

Oil prices higher as U.S. sanctions limit Iran exports

DATA/EVENTS

Cargo surveyor AmSpec 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