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NEWS ADMIN

DATE

11/07/2018

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Wednesday July 11

The Star Online (11/07/2018) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 11.

FUNDAMENTALS

* Malaysian palm oil futures fell more than 1 percent to a two-year low on Tuesday, hurt by weaker oils on China's Dalian Commodity Exchange and a firmer ringgit

* U.S. corn futures fell to contract lows on Tuesday on forecasts for crop-boosting rain and milder temperatures in the heart of the U.S. corn belt, with three-quarters of the nation's crop already in good-to-excellent shape.

* Oil rose on Tuesday, supported by a larger-than expected U.S. stock draw and supply concerns in Norway and Libya, though gains were tempered by the United States' indication that it would consider requests for waivers from Iranian oil sanctions.

MARKET NEWS

* The yen rose across the board on Wednesday and Asian stocks were poised to come under pressure after the United States said it would impose tariffs on an extra 200 billion worth of Chinese imports, escalating the trade war.


RELATED

 USDA to stop giving media early access to crop data under embargo

 Global trade war to be a boon for Black Sea grain

 Monsanto may appeal Brazil royalties ruling

 France sees small drop in soft wheat crop; durum, rapeseed worse hit

 Funds ease corn, soy selling but remain unseasonably bearish -Braun


DATA/EVENTS

Cargo surveyor AmSpec releases Malaysia's July 1-15 palm oil export data on July 16.

Cargo surveyor SGS releases Malaysia's July 1-15 palm oil export data on July 16. - Reuters

Read more at https://www.thestar.com.my/business/business-news/2018/07/11/palm-oil-market-factors-to-watch-july-11/