Malaysian palm oil/Vegoils: Market factors to watch Friday Feb 26

The palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose as much as 0.82 percent to 2,568 ringgit a tonne, its highest since May 19, 2014, before settling down 0.6 percent 2,531 ringgit ($610.62) per tonne. Traded volume stood at 48,968 lots of 25 tonnes each.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Feb 26.
    
FUNDAMENTALS
* Malaysian palm oil futures reversed track to gain for the first time in almost a week on
market short covering and expectations of lower inventories at the end of February. 
* U.S. corn and soybean prices fell on Thursday as commodity traders reacted to forecasts of
increased corn plantings and grain production, as well as predictions of falling prices in the
coming growing season. 
* Crude oil futures jumped 3 percent on Thursday, reversing earlier loses after confirmation of
a meeting of major producers and news of project delays and job cuts in the industry. 
    
MARKET NEWS
*  Asian shares rose on Friday following a firmer finish on Wall Street and as investors awaited
a meeting of Group of 20 finance leaders that will likely offer words of reassurance, even if
little in the way of actual policy stimulus.    
        
RELATED  
> IGC raises forecast for 2015/16 world corn crop 
> Malaysia's Feb 1-25 palm oil exports fell 16.1 pct -SGS 
> Indonesia's Bulog to import 200,000 tonnes of corn in 1Q    
> Malaysia's Feb 1-25 palm oil exports down 14.8 pct m/m - ITS 
> Indonesia's Astra International misses forecast as profit drops 
    
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Feb 1-29 palm oil export data on Feb 29.
    
        
  Palm, soy and crude oil prices at 0046 GMT
                                                                  
  Contract        Month    Last   Change     Low    High  Volume
  MY PALM OIL      MAR6       0    +0.00       0       0       0
  MY PALM OIL      APR6       0    +0.00       0       0       0
  MY PALM OIL      MAY6       0    +0.00       0       0       0
  CHINA PALM OLEIN MAY6    4900   -24.00    4886    4942  433852
  CHINA SOYOIL     MAY6    5638   -32.00    5616    5674  152598
  CBOT SOY OIL     MAY6   30.91    +3.30    0.00    0.00       0
  INDIA PALM OIL   FEB6  480.10    +3.30  477.90  481.20     445
  INDIA SOYOIL     MAR6  615.10    +0.05  615.00  619.50   26740
  NYMEX CRUDE      APR6   32.95    -0.12   32.84   33.16    6876
                                                                  
  Palm oil prices in Malaysian ringgit per tonne
  CBOT soy oil in U.S. cents per pound
  Dalian soy oil and RBD palm olein in Chinese yuan per tonne
  India soy oil in Indian rupee per 10 kg
  Crude in U.S. dollars per barrel
 - Reuters