28/02/05Malaysian Cash Palm Oil Up; Trades Reported(Dow Jones)--Malaysian cash palm oil prices higher in tandem with CPOfutures, soyoil futures markets. RBD palm olein for April/May/June lastoffered +$5 at $397.50/ton. Trades reported at $397.50, $400 earlier; butwith CPO futures now off highs, lack of bullish surprises from exportdata, cash market buyers retreating to sidelines, traders say. Players nowwatching to see if benchmark CPO futures contract can stay above MYR1,400psychological level by end of the day.

USDA 2005-06 Soy Forecast Long-Term Positive(Dow Jones)--USDA forecasts soybean production for 2005-06 marketingyear at 2.87 billion bushels, down 271 million bushels from current year;projections unlikely to have much immediate impact on edible oil markets,though over longer-term, decline in production suggests prices of globaloils and oilseeds next season likely to be stronger than this year,traders say.

Brazil Drought To Continue; Good For Vegoils(Dow Jones)--Cold front arrived in Brazil Thursday afternoon, butunlikely to have been enough change drought in region, says SomarMeteorologia weather service. Forecast for continuation of drought meansBrazil soybean crop may suffer some damage, which positive for globaloilseed and edible oil prices, traders say.