KUALA LUMPUR, May 6 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS * Malaysian palm oil futures slipped to a near 5-month low on Friday, posting a weekly loss of 2.7 percent, with many investors exiting the market as the country heads into polls. * U.S. soybean futures jumped more than 1 percent on Friday while corn fell early and then trimmed losses as tight domestic supplies and strong cash markets prompted investors to cover short positions. * Oil jumped more than $1 to the highest in at least three weeks on Friday, spurred on by better-than-expected job growth in the United States that raised the prospect of stronger demand in the world's top oil consumer.
MARKET NEWS * The U.S. dollar surged against the yen and global equity markets rallied on Friday after the U.S. government reported surprisingly strong jobs growth for April that drove optimism on the economy, driving Wall Street stocks to record highs. * Copper prices jumped more than 6 percent on Friday, their biggest gain in 18 months, while oil and other commodities rose with the stock market after robust U.S. jobs data for April soothed investor worries about the economy.
RELATED NEWS > Cargill says it will idle Indiana soy processor mid-May > Asia to rely increasingly on food imports from West-Czarnikow Vegetable oils -- Malaysian palm oil exports -- CBOT soyoil futures -- CBOT soybean futures -- Indian solvent -- Weekly Indian vegetable oils -- Dalian Commodity Exchange -- Dalian soyoil futures -- Dalian refined palm oil futures -- Zhengzhou rapeseed oil -- European edible oil prices/trades -- (Reporting by the Kuala Lumpur bureau)
