Malaysian palm oil/Vegoils: Market factors to watch Monday May 7

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,403 ringgit ($617.90) a tonne at the close of trade. It earlier rose as much as 0.7 percent to 2,424 ringgit.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday May 7.

FUNDAMENTALS

* Malaysian palm oil futures notched up their biggest rise in two weeks in on Friday on expectations of falling inventories, after a sharp decline on Thursday evening and being largely range-bound this week.