The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange slid 7 ringgit, or 0.17%, to 4,195 ringgit ($940.79) a tonne during early trade.
FUNDAMENTALS
* Exports of Malaysian palm oil products for Feb. 1-25 rose
between 15.3% and 25.4% from the same week in January, cargo
surveyors said on Saturday.
* Dalian's most-active soyoil contract were
unchanged, while its palm oil contract rose 0.05%.
Soyoil prices on the Chicago Board of Trade were up
0.07%.
* Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* The ringgit , palm's currency of trade fell as much as 0.6% against the dollar to its lowest since Nov. 30, making the commodity cheaper for holders of foreign currency.
* Palm oil may test a support of 4,155 ringgit per tonne, a
break below could open the way towards 4,039-4,083 ringgit
range, Reuters technical analyst Wang Tao said. MARKET NEWS
* Asian shares slipped, as markets were forced to price in
ever-loftier peaks for U.S. and European interest rates,
slugging bonds globally and pushing the dollar to multi-week
highs. DATA/EVENTS (GMT)
0500 Japan Leading Indicator Revised Dec
1000 EU Consumer Confid. Final Feb
1100 France Unemp Class-A SA Jan
1330 US Durable Goods Jan
($1 = 4.4590 ringgit)
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(Reporting by Mei Mei Chu; Editing by Rashmi Aich)
* 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 ))
