KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on wednesday Sept 21.FUNDAMENTALS* Malaysian palm oil futures surged to their highest in five months on Tuesday, recording a third straight session of gains, in response to tight supplies and strength in rival oils. * Chicago Board of Trade soybean futures rose 1.7 percent on Tuesday, hitting a nearly one-monthhigh on strong export demand and as rains delayed harvest in key production areas of the U.S.Midwest, traders said. * U.S. crude oil settled up on Tuesday on speculation of demand from the planned restart of the country's main gasoline pipeline, before being joined by Brent in a post-settlement rally on data showing a surprise U.S. inventory drawdown. MARKET NEWS* The dollar edged up while world stock indexes were flat on Tuesday as investors awaited the outcomes of Federal Reserve and Bank of Japan policy meetings that will conclude on Wednesday. RELATEDMalaysia's Sep 1-20 palm oil exports fell 12.2 pct -SGSMalaysia's Sept 1 - 20 palm oil exports fall 11 pct m/m - ITSTough farm conditions right time for Potash merger -Agrium CEOTimely rains relieve EU rapeseed crops after difficult sowingsOPEC chief: oil market stabilisation deal may last one year -RIADATA/EVENTSCargo surveyor ITS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.Cargo surveyor SGS releases Malaysia's Sept 1-15 palm oil export data on Sept 26.- Reuters

Source: The Star September 21, 2016 00:45 UTC