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NEWS ADMIN

DATE

10/08/2018

NEWS PROVIDER

Siti Safura Masiron

NEWS SOURCE

The Star Online

CATEGORY

HEADLINE

Malaysian palm oil/Vegoils: Market factors to watch Friday Aug 10

10.08.2018 (The Star Online) - KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Aug 10.

 

FUNDAMENTALS

* Malaysian palm oil futures ended down on Thursday, snapping a four-session winning streak, on losses overnight in soyoil on the Chicago Board of Trade (CBOT) and as traders turned cautious ahead of a slew of data releases.

* U.S. soybean futures retreated on Thursday after two sessions of gains in a profit-taking and position-squaring setback ahead of Friday's U.S. Department of Agriculture monthly supply and demand report.

* Crude prices settled slightly lower on Thursday, extending the previous session's losses as the escalating China-U.S. trade dispute casts doubt over the outlook for oil demand.

 

MARKET NEWS

* New U.S. sanctions against Moscow drove down Russia's ruble, while worries that Turkey was sliding into a full-blown economic crisis battered the lira on Thursday, but global equity markets largely shrugged off the turmoil to edge higher.

 

RELATED

 The rundown on U.S. corn, soy yield ahead of USDA data -Braun

 U.S. farm loan repayment rates slow -Midwest Fed banks

 Brazil freight policy signed into law, unnerving farm groups

 After soybeans, EU touts U.S. LNG imports to woo Trump on trade

 Danish crop harvest to fall 40 percent due to drought

 

DATA/EVENTS

 Cargo surveyor AmSpec releases Malaysia's Aug 1-10 palm oil export data on Aug 10.

 Cargo surveyor SGS releases Malaysia's Aug 1-10 palm oil export data on Aug 10. - Reuters

 

Read more at https://www.thestar.com.my/business/business-news/2018/08/10/palm-oil-market-factors-to-watch-august-10/#9mwl9xl8Y4bLdZxp.99