The benchmark palm oil contract for May delivery
rose 1.47% to 4,002 ringgit ($908.51) per tonne in early trade,
rebounding from Wednesday's 0.5% drop.
FUNDAMENTALS
* Dalian's most-active soyoil contract gained 0.51%,
while its palm oil contract rose 0.71%. Soyoil prices on
the Chicago Board of Trade were up 0.34%.
* Palm is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* Exports of Malaysian palm oil products for Feb. 1-15 rose
8.9% from a month earlier, independent inspection company AmSpec
Agri Malaysia said on Wednesday, while cargo surveyor Intertek
Testing Services reported an increase of 18.4%.
* India's palm oil imports in January fell about 25% from
the previous month to 833,667 tonnes, a trade body said on
Wednesday.
* Palm oil is biased to fall to 3,859 ringgit per tonne, as
it may be affected by the drop in the overnight COBT grain
market, said Reuters technical analyst Wang Tao MARKET NEWS
* Bonds fell and the dollar rose on Thursday as roaring U.S.
retail sales had investors reckoning on interest rates staying
higher for longer to temper demand, though stock markets were
focused on the bright side for earnings and climbed a little. DATA/EVENTS (GMT)
0030 Australia Employment, Unemployment Rate Jan
1330 US Housing Starts Number Jan
1330 US Initial Jobless Clm Weekly
1330 US Philly Fed Business Indx Feb
1330 US PPI Machine Manuf'ing Jan
($1 = 4.4050 ringgit)
(Reporting by Fransiska Nangoy; Editing by Subhranshu Sahu)
* To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in and press enter, or double click between the brackets.
* Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils Malaysian palm oil exports CBOT soyoil futures CBOT soybean futures Indian solvent Dalian Commodity Exchange Dalian soyoil futures Dalian refined palm oil futures Zhengzhou rapeseed oil European edible oil prices/trades ))
