KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday Feb 7..FUNDAMENTALS* Malaysian palm oil futures edged up on Monday, reversing most of last week's losses, with traders expecting data due this week to show a rise in export demand amid poor production. * U.S. soybean futures firmed on Monday on spillover strength from a rally in China as well as signs of good export demand, traders said. * Oil fell on Monday as ample U.S. supplies and excess speculative length outweighed OPEC output curbs and rising tensions between the United States and Iran. MARKET NEWS* U.S. stocks fell on Monday, led lower by the energy sector as oil prices slumped, following European shares and the euro downward on global political uncertainty. RELATEDBrazil wheat hits export markets after large crop -port dataEU wheat steady as softer euro underpins quiet marketIvory Coast rain helps cocoa mid-crop, some regions still dryChina's latest farm policy shifts focus from output to demandFrance holds rapeseed area steady but sees downside riskDATA/EVENTSCargo surveyor ITS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.Cargo surveyor SGS releases Malaysia's Feb 1-10 palm oil export data on Feb 10.

Source: The Star February 07, 2017 00:19 UTC