KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures edged up in rangebound trade on Monday, fed by optimism that output in July could miss initial estimates, although sluggish exports damped investor appetite
* U.S. oil prices pulled back sharply on Monday from last week's 16-month high as traders sold to lock in profits from a blistering rally that briefly sent U.S. crude to a premium over Brent for the first time in nearly three years.
MARKET NEWS
* World stock prices rose to near five-year highs on Monday on growing investor optimism after Japanese Prime Minister Shinzo Abe strengthened his power base, adding weight to his plans to jumpstart the world's third-biggest economy.
* U.S. soybean meal futures rose by the daily trading limit to a new contract high on Monday as processors scrambled to obtain scarce supplies of the oilseed.
* Gold jumped to one-month highs on Monday as a rise above $1,300 an ounce prompted more buying by speculators covering bearish bets, while copper and many agricultural commodities rallied too.
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DATA/EVENTS > Cargo surveyor, Societe Generale de Surveillance, will issue exports data for July 1-25 on Thursday.- Reuters
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