Malaysian palm oil/Vegoils: Market factors to watch Tuesday March 3

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday March 3.
    
FUNDAMENTALS
* Malaysian palm oil futures rose for a third day on Monday to their highest in
six weeks, spurred by gains in competing markets, ahead of an important industry
meeting in Malaysia, traders said. 
* U.S. wheat futures dropped 2.5 percent on Monday on poor export demand and
lessened concerns about damage to the dormant U.S. crop, traders said. 
* Brent futures fell 5 percent, its most in a month, on Monday as speculation of
a nuclear deal that could lift Iran's sanctions and boost its oil exports
brought worries about high supplies back to the market. 
    
MARKET NEWS
* The U.S. dollar hovered close to an 11-year high against a basket of
currencies while Asian shares firmed in early trade on Tuesday, with sentiment
bolstered by another record day on Wall Street. 
      
RELATED
> Malaysia's February palm oil exports fell 10.4 pct -SGS        
> As palm industry meets, price direction rests on crude oil     
> Malaysia's February palm exports down 14.5 pct m/m -ITS        
> Argentina tracks soy hoarding by registering 'silo-bag' sales  
> U.S. farmers book new-crop soy sales on surprise rally         
> Venezuela coffee output sinks, swaps oil for Nicaraguan beans  
> Heat and dry weather could threaten Ivory Coast cocoa mid-crop 
> Raw sugar hits 5-month low, arabica weakest in a year          
> Egypt's GASC buys 110,000 tonnes Russian and Ukrainian wheat   
 
    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance
to release data on Malaysia's February palm oil exports on March 2.
 
  Palm, soy and crude oil prices at 0452 GMT
                                                                           
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      FEB5    2240   -24.00    2230    2254      29
  MY PALM OIL      MAR5    2228   -19.00    2220    2249     388
  MY PALM OIL      APR5    2210   -20.00    2202    2222    7986
  CHINA PALM OLEIN MAY5    4846   -22.00    4844    4874  180294
  CHINA SOYOIL     MAY5    5514   -52.00    5508    5562  240078
  CBOT SOY OIL     MAR5   31.48    -3.50   31.47   31.57    2367
  INDIA PALM OIL   JAN5  434.90    -3.50  434.00  439.50     488
  INDIA SOYOIL     FEB5  616.00    -9.00  615.70  624.80   50145
  NYMEX CRUDE      MAR5   45.06    -0.53   44.35   45.35   25835
                                                                           
  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