VEGOILS-Market factors to watch August 1
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS * Malaysian palm oil futures edged up slightly on Tuesday, recovering from a one-week low hit earlier in the day, supported by gains in U.S. soyoil and a weaker ringgit. * U.S. soybean futures surged 3 percent on Tuesday to 1-1/2-month highs on hopes that the United States and China would restart stalled talks to avert a damaging trade war that has already slowed U.S. soy exports. * Oil prices fell on Tuesday, closing out the largest monthly decline in two years on supply worries after OPEC output reached a 2018 high in July, overshadowing reports that the United States and China might reopen trade talks that could boost demand.
MARKET NEWS * Asian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today.
RELATED > Indonesia president pushes biodiesel plan to stop currency tanking > Oil posts biggest monthly loss since 2016 as OPEC boosts output > Ukraine expects record maize harvest, rising sales to China > Sugar drops 3 pct to lowest since 2015, cocoa plummets > ADM earnings double, helped by U.S.-China trade row
DATA/EVENTS > Cargo surveyor AmSpec releases Malaysia's Aug 1-10 palm oil export data on Aug 10. > Cargo surveyor SGS releases Malaysia's Aug 1-10 palm oil export data on Aug 10.
* For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type.
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11.
Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- CBOT soybean futures -- Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- Dalian refined palm oil futures -- Zhengzhou rapeseed oil -- European edible oil prices/trades -- (Reporting by KL newsroom)
