Malaysian palm oil/Vegoils: Market factors to watch Tuesday Feb 13

Malaysian palm oil futures snapped a three-day rally on Thursday evening, falling from a near two-month high reached in the previous session and tracking weaker rival oils.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 13.

FUNDAMENTALS

* Malaysian palm oil futures rose to their highest in a month on Monday evening, charting a fourth day of gains after supportive export data from the Malaysian Palm Oil Board (MPOB).

* Weather concerns sparked a rally in U.S. wheat and soybean futures on Monday, with forecasts for dry conditions threatening to reduce harvests in key growing areas, traders said.