Malaysian palm oil/Vegoils: Market factors to watch Wednesday May 11

The palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was 0.5 percent higher at the close of trade, settling at 2,629 ringgit ($657) per tonne

* Malaysian benchmark palm oil futures rose for a second consecutive day as the ringgit weakened and stockpiles declined in the world's second largest palm producer. 

* U.S. soybean futures surged more than 5 percent to their highest level in 18 months on Tuesday after the U.S. Department of Agriculture forecast that domestic stocks would fall more than most analysts expect by the end of the 2016/17 marketing year.