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Malaysian palm oil/Vegoils: Market factors to watch Wednesday Aug 16 – Business News

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.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Aug 16.            

FUNDAMENTALS
* 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.

MARKET NEWS
* 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
stocks.

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 Former chairman of Malaysian oil palm firm Felda arrested, says Bernama
 Value of Brazil agricultural output rises on productivity gains
 Funds net sellers of CBOT corn, soy and wheat   

DATA/EVENTS
 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

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