Home / MARKETS / Malaysian palm oil/Vegoils: Market factors to watch Thursday Sept 14 – Business News

Malaysian palm oil/Vegoils: Market factors to watch Thursday Sept 14 – Business News

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday September 14.

FUNDAMENTALS

* Malaysian palm oil futures gained for a third straight session to hit their highest in more than six months on Wednesday, as trading breached a psychological barrier and market was upbeat about the industry outlook.

* U.S. soybeans firmed on Wednesday in a light technical rebound one day after the U.S. Department of Agriculture surprised analysts by raising its estimates of the U.S. corn and soybean yields.

* Crude oil prices rose on Wednesday after the International Energy Agency (IEA) said a global surplus of crude was starting to shrink, even though U.S. data showed another big increase in domestic inventories due to Hurricane Harvey.

MARKET NEWS

* Global equity markets were little changed on Wednesday as Wall Street eked out new closing highs, while the dollar rose on U.S. producer prices data for August that suggested a robust economy.

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DATA/EVENTS

 Cargo surveyor ITS releases Malaysia’s Sept 1-15 palm oil export data on Sept 15.
 Cargo surveyor SGS releases Malaysia’s Sept 1-15 palm oil export data on Sept 15.
– Reuters

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