FUNDAMENTALS
* Dalian's most-active soyoil contract rose 0.98%,
while its palm oil contract was up 0.91%. Soyoil prices
on the Chicago Board of Trade were barely changed.
* Palm oil is affected by price movements in related oils as
they compete for a share in the global vegetable oils market.
* Traders were monitoring exports after cargo surveyor
data earlier this week showed shipments of Malaysian palm oil
products for April 1-10 fell between 16.2% and 35.6% from a
month earlier.
* Across Indonesia and Malaysia, which produce 85% of the
world's palm oil, growers are ramping up replanting after a
decade of letting estates grow older, an ageing trend that
threatens to tighten supply of the commodity that accounts for
nearly 60% of global vegetable oil.
* Palm oil may bounce more to 3,797 ringgit per tonne,
following its stabilisation around a support of 3,671 ringgit,
said Reuters technical analyst Wang Tao. MARKET NEWS
* Asian shares firmed as Singapore became the latest country
to pause its policy tightening and markets became more confident
the likely next hike in U.S. rates would be the last this cycle.
* Oil prices rose in early Asian trade, after falling 1% in
the previous session, as the market weighed supportive supply
conditions ahead of the International Energy Agency's monthly
demand outlook. DATA/EVENTS (GMT)
0645 France CPI (EU Norm) Final MM, YY March
1230 US Import Prices YY March
1230 US Retail Sales MM March
1315 US Industrial Production MM March
1400 US U Mich Sentiment Prelim April
($1 = 4.3830 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 ))
