KUALA LUMPUR: The following factors are
likely to influence Malaysian palm oil futures and other vegetable oil
markets on Tuesday Sept 12.
FUNDAMENTALS
* Malaysian palm oil futures jumped to their highest level since March
in Monday's session driven by a fall in production and higher exports
that kept inventory numbers lower than expected.
* U.S. wheat futures dipped to a one-week low on Monday as swelling
harvest supplies in the Black Sea export region hung over a subdued
market a day ahead of closely watched U.S.government crop forecasts.
* Oil prices rose on Monday as key U.S. refineries began restarts
following Hurricane Harvey, which may help revive crude oil processing,
while fuel prices fell as Hurricane Irma is likely to clip demand for
gasoline and diesel.
MARKET NEWS
* A global equity index and the S&P 500 surged to record highs on
Monday, spurred by relief that Hurricane Irma weakened to a tropical
storm and that North Korea's anniversary celebrations on the weekend
passed without a new missile test.
RELATED
Hurricane Irma whips orange trees, shuts Tyson meat plants
Russian wheat prices rise as farmers hold back on sales
Brazil's August beef exports up 34 pct as food safety scandal wanes
Raw sugar settles higher on Hurricane Irma worries in Cuba
Largest U.S. refinery restarts production after Harvey
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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