FUNDAMENTALS
* Exports of Malaysian palm oil products for March 1-20 rose
between 19.8% and 29.8% from a month earlier, data from cargo
surveyor Intertek Testing Services and independent inspection
company AmSpec Agri Malaysia showed.
* Indonesia's palm oil production for 2023/24 is seen at 46
million metric tonnes (MMT), an increase of 3% from the previous
year, the U.S. Department of Agriculture's (USDA) Foreign
Agricultural Service report said.
* Dalian's most active soyoil contract slid 0.22%,
while its palm oil contract dropped 1.30%. Soyoil
prices on the Chicago Board of Trade were down 0.24%
after Monday's 0.8% gain.
* Palm oil FCPOc3 may bounce further to 3,931 ringgit per
tonne, as suggested by its wave pattern and a falling
channel. MARKET NEWS
* Asian stocks were lifted from lows on Tuesday, with the
rescue of Credit Suisse stemming selling in bank shares, though
the mood was fragile and the stress in markets had traders
wondering whether U.S. rate hikes might be finished.
* Oil prices stabilised after falling early in the previous
session on investor worries that recent banking-sector problems
would weigh on the global economy and limit demand for crude. DATA/EVENTS (GMT)
1000 Germany ZEW Economic Sentiment March
1000 Germany ZEW Current Conditions March
1400 US Existing Homes Sales Feb
U.S. Federal Reserve's Federal Open Market Committee starts
its two-day meeting on interest rates
($1 = 4.4740 ringgit)
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cpo ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
(Reporting by Bernadette Christina Munthe; 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 ))
