Malaysian palm oil/Vegoils: Market factors to watch Thursday May 5

Masing says the oil palm industry contributed RM8bil to Sarawak

* Malaysian palm oil futures rose on Wednesday, marking their sharpest jump in nearly five months, as traders covered short positions after four sessions of losses and as the ringgit MYR= sunk to its weakest in five weeks. 

* U.S. wheat and soybeans firmed on Wednesday, reversing overnight losses, on technical buying and a mild round of short-covering, traders said.