Malaysian palm oil/Vegoils: Market factors to watch Monday March 7

Malaysian palm oil futures rose on Friday tracking competing vegetable oils, gaining for a second consecutive day, although upsides were seen capped by a stronger ringgit

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday March 7.
    
FUNDAMENTALS
* Malaysian palm oil futures rose on Friday tracking competing vegetable oils, gaining for a
second consecutive day, although upsides were seen capped by a stronger ringgit. 
* U.S. soybean futures jumped nearly 2 percent on Friday as investors covered short positions
due to strong export demand, registering their biggest weekly gain since mid-December. 
* Oil jumped on Friday, settling 4 percent higher as strong U.S. jobs data and technical factors
encouraged buying that revived this week's rally after a one-day pause. 
    
MARKET NEWS
*  A gauge of stock markets worldwide rose to a two-month high on Friday, posting its largest
weekly gain since October, as oil and other commodity prices firmed and strong U.S. jobs growth
bolstered confidence in the global economy.    
        
RELATED  
> Egypt replaces head of agriculture quarantine authority 
> Argentina farmers ask state to intervene in Monsanto soy fight 
> China says to improve pricing mechanism for grains in 2016    
> FOB Gulf Grain-Nearby soybean basis steady/weak on dull demand 
> U.S. Cash Grains-Corn, soy bids mostly steady; farmers book moderate sales 
    
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's March 1-10 palm oil export data on March 10.
> Cargo surveyor SGS releases Malaysia's March 1-10 palm oil export data on March 10.
    
    
  Palm, soy and crude oil prices at 0000 GMT
                                                                 
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      MAR6       0    +0.00       0       0       0
  MY PALM OIL      APR6       0    +0.00       0       0       0
  MY PALM OIL      MAY6       0    +0.00       0       0       0
  CHINA PALM OLEIN MAY6    5080   +60.00    5008    5104  443148
  CHINA SOYOIL     MAY6    5700   +44.00    5660    5716  165756
  CBOT SOY OIL     MAY6   30.96    +2.20    0.00    0.00       0
  INDIA PALM OIL   MAR6  485.90    +2.20  482.40  487.00    1396
  INDIA SOYOIL     MAR6  605.10    +1.50  601.00  606.30   15240
  NYMEX CRUDE      APR6   36.27    +0.35   36.20   36.49    5752
                                                                 
  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