KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 11.
* 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.
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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