KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Nov 2.FUNDAMENTALS* Malaysian palm oil futures dropped on Tuesday evening, hitting their lowest point in more than a week, weighed down by weaker performing rival soyoils on China's Dalian Commodity Exchange and the Chicago Board of Trade. * Chicago Board of Trade soybean and corn futures fell on Tuesday on expectations the U.S. Department of Agriculture might raise its forecast of the U.S. soybean yield in a monthly report next week, traders said. * Oil prices settled lower on Tuesday, then tumbled again after hours following a trade group's report of a U.S. crude inventory build nine times larger than forecast. MARKET NEWS* Global equity prices and the dollar fell sharply on Tuesday as investors sought safe havens amid mounting uncertainty about next week's U.S. presidential election. RELATEDArgentina tax revenue up 24.4 pct in October on high inflationNTL FCStone raises U.S. 2016 soy and corn yield estimatesADM profit jumps on higher U.S. grain exports; shares riseFrost cuts Western Australia wheat, grain production by 15 pct -largest exporterIndonesia's 2016 rice output may rise to 79.14 mln-agriculture minDATA/EVENTSCargo surveyor ITS releases Malaysia's Oct palm oil export data on Nov 10.Cargo surveyor SGS releases Malaysia's Oct palm oil export data on Nov 10.

Source: The Star November 02, 2016 01:01 UTC