KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Aug 16.
* Malaysian palm oil futures slid on Tuesday evening to their steepest fall in a week, tracking a decline in exports and weaker performance among other related edible oils.
* Chicago Board of Trade corn 0#C: tumbled to a 10-month low on Tuesday and soybeans 0#S: fell to a six-week low as rains boosted expectations for bumper U.S. crops, traders said.
* Oil prices rose early on Wednesday on a fall in U.S. crude inventories, although analysts said that markets were still being weighed down by general oversupply.
* The U.S. dollar and U.S. Treasury yields climbed on Tuesday after solid U.S. retail data and an easing in U.S.-North Korean rhetoric, but Wall Street was held down by weakness in retail
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Cargo surveyor ITS releases Malaysia’s Aug 1-20 palm oil export data on August 20.
Cargo surveyor SGS releases Malaysia’s Aug 1-20 palm oil export data on August 20. – Reuters