Palm oil/Vegoils: Market factors to watch Wednesday May 27

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday May 27.
    
FUNDAMENTALS
* Malaysian palm oil futures rose to their highest in nearly two weeks on Tuesday, pulling up
from three-week lows in the previous session, boosted by a jump in overseas edible oil markets
and strong export demand. 
* U.S. wheat futures plunged more than 4 percent on Tuesday as pressure from a strong dollar and
technical selling outweighed concerns about crop damage due to heavy rain in the southern
Plains. 
* Oil prices fell nearly 3 percent on Tuesday as the dollar's rally weighed on
dollar-denominated crude oil futures along with concerns that a recent rally might keep U.S.
producers active. 
    
MARKET NEWS
* The U.S. dollar rallied on Tuesday after a string of healthy economic data boosted near-term
rate hike prospects, while Greece's financial crisis and signs of growing opposition to
austerity in Spain weighed further on the euro.    
    
RELATED
> U.S. corn, soy, wheat development stays ahead of normal   
> El Nino seen bringing drought to Brazil's north, heavy rains to south   
> EU crop monitor nudges up wheat yield forecast    
> TABLE-Indonesia's April palm exports up 11 pct m/m               
> Analyst raises Ukraine 2015 grain harvest forecast to 54.9 mln T 
> Russia may harvest 95 mln tonnes of grains in 2015 - SovEcon     
    
    
DATA/EVENTS 
> Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance to release data
on Malaysia's May palm oil exports on June 1.
    
    
  Palm, soy and crude oil prices at 0006 GMT
                                                                      
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      JUN5       0    +0.00       0       0       0
  MY PALM OIL      JUL5       0    +0.00       0       0       0
  MY PALM OIL      AUG5       0    +0.00       0       0       0
  CHINA PALM OLEIN SEP5    5070   +48.00    5040    5110  414638
  CHINA SOYOIL     SEP5    5766   +16.00    5744    5806  272318
  CBOT SOY OIL     JUL5   32.07    +3.00   32.04   32.18     513
  INDIA PALM OIL   MAY5  452.70    +3.00  452.00  455.00     565
  INDIA SOYOIL     JUN5  595.20    +0.65  594.30  599.70   26565
  NYMEX CRUDE      JUL5   58.33    +0.30   58.25   58.50    1406
                                                                      
  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