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NEWS ADMIN

DATE

13/06/2018

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Satr Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Wednesday June 13

The Star online (13/06/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 13.

FUNDAMENTALS

* 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
lacklustre demand.

* 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.

MARKET NEWS

* 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.

RELATED

 U.S. pursues action on poultry, beef, biotech crops in China trade talks -official

 USDA sees smaller corn, soy stocks as demand rises

 Brazil truck freight talks lag, lead to shipping delays

 Some French petrol stations run dry as farmer blockade continues

 Euronext adds delivery point in Dunkirk for its maize futures

DATA/EVENTS

 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


Read more at https://www.thestar.com.my/business/business-news/2018/06/13/palm-oil-market-factors-to-watch-june-13/#78Fj6ZxffXjM9Ry5.99