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