Palm oil/Vegoils: Market factors to watch on Thursday Jan 29

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Jan 29.
    
FUNDAMENTALS
* Malaysian palm oil rose for a second day on Wednesday, recouping some of its
recent losses, but traders were wary and questioned how far the recovery could
go since demand remained weak. 
* Chicago Board of Trade wheat futures fell 2.7 percent on Wednesday to a
three-month low on technical selling, plentiful global supplies and forecasts
for rains in the U.S. Plains, analysts said. 
* Oil slumped on Wednesday, with U.S. crude prices at near six-year lows, after
the government reported record-high inventories in the United States that raised
anxieties about the global oil glut that had pressured the market since last
summer. 
    
MARKET NEWS
* U.S. bond prices rallied, with the 30-year yield hitting a record low on
Wednesday as investors bet U.S. rate hikes were less likely to start soon after
the Federal Reserve said inflation was running below forecasts. 
      
RELATED
> U.S., Brazil expand biotech crop plantings by 4 pct each -report   
 
> U.S. grain farmers add debt as crop prices squeeze cash flow   
   
> Petrobras still faces default risk despite release, fund says  
> Petrobras reports earnings without graft writedowns despite delays 
 
       
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's January palm oil exports on Feb. 4.
  Palm, soy and crude oil prices at 0007 GMT
                                                                      
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      FEB5       0    +0.00       0       0       0
  MY PALM OIL      MAR5       0    +0.00       0       0       0
  MY PALM OIL      APR5       0    +0.00       0       0       0
  CHINA PALM OLEIN MAY5    4768   -42.00    4764    4818  144054
  CHINA SOYOIL     MAY5    5430   -52.00    5428    5480  187512
  CBOT SOY OIL     MAR5   30.34    -1.40    0.00    0.00       0
  INDIA PALM OIL   JAN5  425.60    -1.40  424.70  429.10     561
  INDIA SOYOIL     FEB5  611.20   -11.95  611.20  628.50   64955
  NYMEX CRUDE      MAR5   44.52    +0.06   44.34   44.54    1224
                                                                      
  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