KUALA LUMPUR, May 20 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday.
FUNDAMENTALS * Malaysian palm oil futures rose on Friday, gaining for a second straight week, as investors pinned their hopes on a recovery in exports in the second half of May to help ease stocks. * U.S. corn futures rose 1.8 percent on Friday, reversing three days of declines on strong cash markets as farmers focused on planting their 2013 crop rather than selling in the cash market, traders and analysts said. * Oil rose for a third straight session on Friday, supported by a raft of strong economic data from top oil consumer the United States that also boosted U.S. equities, even as the dollar hit a multi-year high.
MARKET NEWS * The U.S. dollar soared against major currencies on Friday on growing speculation that the Federal Reserve could soon begin to rein in its bond-buying program and after data showed U.S. consumer sentiment hit an almost six-year high in early May. * Oil and copper prices ended up on Friday after stronger U.S. economic data and a stock market rally while corn rose on less crop sales by farmers, pushing commodities broadly higher.
RELATED NEWS > Informa Economics sees fewer U.S. '13 corn acres than USDA > Exporters sell U.S. soybeans to China, unknown - USDA {ID:nL2N0DY0OU]
DATA/EVENTS > Cargo surveyors to release Malaysia's May 1-20 exports data on Monday.
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)
