Malaysian palm oil/Vegoils: Market factors to watch Friday May 4

Malaysian palm oil fell on Friday evening in a second day of declines, weighed down by a stronger ringgit, its currency of trade.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday May 4.

FUNDAMENTALS

* Malaysian palm oil futures slid to their lowest in over a year in late trade on Thursday, charting a sixth day of losses in eight, as traders turned bearish over weakening export demand.

* U.S. wheat futures climbed to multimonth highs Thursday on a mix of short-covering and worries about the size of the hard red winter wheat crop in top producer Kansas, traders said.