Palm oil/Vegoils: Market factors to watch Tuesday Dec 8

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Dec 8..
    
FUNDAMENTALS
* Malaysian palm oil closed almost three percent higher on Monday, climbing to a two-month high,
with the market driven up by strong gains in rival soyoil prices and fears that dryness due to
the El Nino weather pattern will cut yields. 
* U.S. soybean futures fell on Monday for the first time in six sessions and corn dropped after
two sessions of gains on profit-taking and as traders took positions ahead of a government crop
report due later this week. 
*   Crude oil futures tumbled 6 percent on Monday, reaching their lowest in nearly seven years,
after OPEC failed to address a growing supply glut, while a stronger dollar made it more
expensive to hold crude positions. 
    
MARKET NEWS
* Oil prices skidded to their lowest level in nearly seven years on Monday, knocking down shares
of major oil companies on Wall Street as a global glut showed no signs of abating.  
 
        
RELATED
> Investors brace for oil price "lower for even longer" after OPEC 
> Australia trims beef exports despite strong El Nino 
> Scientists assembled for Monsanto say herbicide not carcinogenic, disputing WHO
report 
> Soybeans, corn drop from multiweek highs on profit taking 
> Nigerian cocoa grinders say face fight for survival 
    
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Dec 1-10 palm oil export data on December 10.
> Malaysian Palm Oil Board releases Malaysia's monthly palm oil data on December 10.
    
    * For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal
users can double click on or type.
    * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and
Rotterdam, please key in and press enter, or double click between the brackets. 
    * Reuters Terminal users can see cash and futures edible oil prices by double clicking on
the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit
F11.
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      DEC5       0    +0.00       0       0       0
  MY PALM OIL      JAN6       0    +0.00       0       0       0
  MY PALM OIL      FEB6       0    +0.00       0       0       0
  CHINA PALM OLEIN MAY6    4766   +28.00    4758    4810  389606
  CHINA SOYOIL     MAY6    5732   -10.00    5728    5780  377030
  CBOT SOY OIL     JAN6   31.25    +2.90    0.00    0.00       0
  INDIA PALM OIL   DEC5  415.40    +2.90  414.00  421.80    3159
  INDIA SOYOIL     DEC5  636.70    +6.05  632.50  641.40   32110
  NYMEX CRUDE      JAN6   37.84    +0.19   37.63   37.88    2259
                                                                    
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel
    - Reuters