FUNDAMENTALS
* Exports of Malaysian palm oil products for Mar. 1-25 rose
18.5% compared to shipments during Feb. 1-25, cargo surveyor
Societe Generale de Surveillance said on Tuesday.
* Crude prices moved in a narrow range in early Asian trade
after rallying more than $3 the previous session, with oil
markets focused on developments in the banking crisis as well as
on supply concerns and indications of strengthening demand.
* Stronger crude oil futures make palm a more attractive
option for biodiesel feedstock.
* Dalian's most-active soyoil contract grew 2.3%,
while its palm oil contract inched 2.0% higher. Soyoil
prices on the Chicago Board of Trade fell 0.1%.
* 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 rise into a range of 3,690-3,773 ringgit per
tonne, as it has stabilised around a support of 3,494 ringgit,
Reuters technical analyst Wang Tao said. MARKET NEWS
* Global stocks and U.S. bond yields rose on Tuesday, as a
U.S. regulator-backed deal by First Citizens BancShares to buy
failed Silicon Valley Bank soothed wider worries about problems
in the sector. DATA/EVENTS (GMT)
0645 France Business Climate Mfg March
0645 France Business Climate Overall March
1400 US Consumer Confidence March
Bank of Japan Governor Haruhiko Kuroda gives remark at the
FIN/SUM 2023 in Tokyo
1315 - European Central Bank president Christine Lagarde
gives speech at opening ceremony of BIS Innovation Hub
Eurosystem Centre in Frankfurt
0845 - Governor Andrew Bailey and other Bank of England
officials participate in a Treasury Select Committee hearing
on Silicon Valley Bank in London
($1 = 4.3940 ringgit)
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(Reporting by Carman Chew; Editing by Sonia Cheema)
* 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 ))
