Malaysian palm oil/Vegoils: Market factors to watch Friday May 6

Profitable: Excluding the forex gain, IOI said the underlying pre-tax profit in Q2 was up 76% year-onyear at RM649.2mil on a 3.9% higher revenue of RM2.97bil.

* Malaysian palm oil futures reversed their losses from earlier trade on Thursday, rising to a one-week high as the ringgit MYR= weakened against the dollar to breach the 4.00 mark in the evening. 

* U.S. corn and soybean futures fell on Thursday, with soy dropping 2 percent, on profit-taking by investment funds looking to lock in gains from recent rallies.