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

Malaysian palm oil edged up on Friday evening for its first gain in four sessions on the back of falling production outlook, after earlier hitting its lowest level since August last year on rising global vegetable oil supplies and weak demand..

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

FUNDAMENTALS

* Malaysian palm oil futures rose to a two-month high on Tuesday evening, charting a third straight session of gains, as the Malaysian ringgit and the Indonesian rupiah weakened and related edible oils moved higher.

* U.S. wheat futures edged lower on Wednesday to extend losses into a second session, as fears of tighter global supplies eased after Russia said it saw no reason to restrict exports.