Malaysian palm oil/Vegoils: Market factors to watch Wednesday July 27

Malaysian palm oil futures rose for a second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit MYR= weighed on prices earlier in the day.

* Malaysian palm oil futures reversed losses in late trade on Tuesday, in response to a stronger performance by U.S. soybean oil, plus Malaysia's commitment to raise the minimum bio content in biodiesel, which will boost palm oil consumption. 

* Chicago Board of Trade wheat futures plunged as much as 3 percent on Tuesday, their largest daily losses in three weeks, on pressure from ample global grain supplies and following declines in Euronext wheat, traders said.