Stock Advisory in Indore, VEG OILS-Market factors to watch November 28
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The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to a four-month low on Monday, tracking softer edible oils on the Chicago Board of Trade and China's Dalian Commodity Exchange. POI/
* Chicago Board of Trade wheat futures sank 1.4 percent to fresh contract lows on Monday, pressured by poor demand for U.S. supplies from overseas buyers, traders said. GRA/
* U.S. oil prices fell more than 1 percent on Monday, easing from two-year highs on prospects of higher supply from a planned restart of the Keystone crude pipeline and uncertainty about Russia's resolve to join in extending output cuts ahead of this week's OPEC meeting. O/R
MARKET NEWS
* Asian shares stepped back from decade highs on Tuesday on worries about another sharp sell-off in Chinese stock markets, while the U.S. dollar trod water ahead of a crucial vote for a tax reform in the world's largest economy. MKTS/GLOB
RELATED > Rising Russian Sakhalin-1 oil output may threaten OPEC deal compliance > Goldman calls outcome of upcoming OPEC meeting uncertain > Iraq invites foreign bids for oil, gas blocks in new areas > Louis Dreyfus to buy Chinese oilseed firm from Golden Agri > Germany swings EU vote in favour of weed-killer glyphosate > Cargo surveyor ITS releases Malaysia's Nov 1-30 palm oil export data on Nov 30. > Cargo surveyor SGS releases Malaysia's Nov 1-30 palm oil export data on Nov 30.
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