Malaysian palm oil/Vegoils: Market factors to watch Wednesday Feb 21

A worker pushes a cart of palm oil fruits at Felda Bukit Cerakah in the district of Klang in Selangor. Photo: Reuters

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 21

FUNDAMENTALS *

Malaysian palm oil futures slid on Tuesday as export growth slowed and the market took a chance to take profits amid mounting production concerns. * U.S. soybean meal futures jumped to their highest level since July 2016 on Tuesday as a drought kept the heat on crops in Argentina, the world's top exporter of the livestock feed.

* U.S. crude hit a near two-week high in a choppy session on Tuesday amid inventory declines at a key storage hub and on expectations that top producers could extend cooperation beyond 2018, while Brent fell under pressure from a stronger dollar.

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