Malaysian palm oil/Vegoils: Market factors to watch Thursday May 3

Malaysian palm oil futures rose 2 percent on Tuesday, a second consecutive session of gains on stronger export demand and expectations of weaker production.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday May 3.

FUNDAMENTALS

* Malaysian palm oil futures rose on the back of a weaker ringgit in its early session on Wednesday, but pared gains in the second half of trade as strength in related edible oils eased.

* U.S. soybean futures fell on Wednesday on concerns about decreased export demand from China as well as rising expectations for a bumper crop in Brazil, traders said.