The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange slid 2 ringgit, or 0.07%, to 4,090 ringgit ($911.93) a tonne during early trade.
FUNDAMENTALS
* Malaysia's benchmark crude palm oil prices are expected to
stay supported at 4,000 ringgit ($885.15) a tonne in the near
term due to tight availability of surplus, the Malaysian Palm
Oil Association (MPOA) said on Saturday.
* Malaysia's end-February palm oil inventories tumbled to
the lowest in six months as production and imports plummeted,
data issued by the nation's palm oil board showed on Friday.
* Exports from Malaysia during March 1-10 surged between
45.3% and 52.1% from the same period in February, cargo
suveryors said on Friday.
* Dalian's most-active soyoil contract fell 1.6%,
while its palm oil contract lost 1.5%. Soyoil prices on
the Chicago Board of Trade were up 0.7%.
* Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* Palm oil may drop more into a range of 4,006 ringgit to
4,052 ringgit per tonne, driven by a wave c, Reuters technical
analyst Wang Tao said. MARKET NEWS
* U.S. stock futures rallied in Asian trade on Monday as
authorities announced plans to limit the fallout from the
collapse of Silicon Valley Bank (SVB), while investors wagered a
rate hike this month was no longer a certainty. DATA/EVENTS (GMT)
0700 UK Claimant Count Unem Chng Feb 0700 UK ILO Unemployment Rate Jan 0700 UK HMRC Payrolls Change Feb
Euro group finance ministers meet in Brussels ($1 = 4.4850 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Mei Mei Chu; Editing by Sherry Jacob-Phillips)
* 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 ))
