Malaysian palm oil/Vegoils: Market factors to watch Tuesday July 19

The palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was 0.5 percent higher at the close of trade, settling at 2,629 ringgit ($657) per tonne

* Malaysian palm oil futures rose on Monday to sell near a one-week high, as traders adjusted positions after a recent sharp sell-off, but caution prevailed due to weak export demand. 

* U.S. corn futures firmed on Monday as forecasts for scorching heat this week in the Midwest, where the crop is pollinating, fueled concerns about yield prospects, traders said.