Business

Malaysian palm oil/Vegoils: Market factors to watch Wednesday Sept 27

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil  markets on Wednesday Sept 27.

FUNDAMENTALS
* Malaysian palm oil futures saw their strongest daily gain in three weeks on Tuesday, rebounding from two days of losses, on concerns of weaker output growth.
* US corn fell for a second consecutive session on Wednesday as ample global supplies,  expected to be confirmed by the US Department of Agriculture later this week, pressured prices.
* Oil prices ended 1 percent lower on Tuesday after investors took profits following the rally to 26-month highs largely spurred by threats from Turkey to cut crude exports from Iraq’s Kurdistan
region.

MARKET NEWS
* The dollar climbed to a one-month high and bond yields rose on Wednesday as risks grew for a U.S. interest rate hike in December, while Asian stocks hovered near multi-week lows as tensions
in the Korean peninsula remain elevated.

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DATA / EVENTS
 Cargo surveyor ITS releases
Malaysia’s Sept 1-30 palm oil export data on Sept 30.
– Reuters