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

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

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