KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday July 11.FUNDAMENTALS* Malaysian palm oil futures fell 5 percent on Friday to their lowest level in nine months, following losses in rival soyoil and on sluggish export demand. * U.S. soybean and corn futures rallied on Friday on a bargain-buying bounce after declining sharply earlier in the week. * Crude prices edged down in early Asian trade on Monday to hold near two-month lows on seasonally weak consumption, despite comments from the Saudi Arabian oil minister that the oil market was becoming more balanced. MARKET NEWS* Asian share markets enjoyed a relief rally on Monday as upbeat U.S. jobs data lessened immediate concerns about health of the world's largest economy, though long-run fallout from Brexit kept sovereign yields near record lows. RELATEDIndia allows imports of 500,000 T of duty-free, non-GM cornEU trims wheat crop outlook, slashes rapeseedChina floods may boost prices, imports to world's biggest pork marketEXCLUSIVE-Philippines suspends 2 nickel mines, halts permits in environmental crackdownOil funds hold down risk, eye volatility after weak first half- Reuters

Source: The Star July 11, 2016 00:56 UTC