Malaysian palm oil/Vegoils: Market factors to watch Friday Dec 21

Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

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

FUNDAMENTALS

* Malaysian palm oil futures dropped from an eight-week high on Thursday, falling as much as 1.4 percent in the second half of trade, weighed down by weaker soyoil on the U.S. Chicago Board of Trade (CBOT) and profit taking.

* U.S. soybean futures fell to three-week lows on Thursday as improving crop prospects in South America overshadowed renewed Chinese demand for U.S. shipments.