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VEGOILS-Palm tracks weakness in Chicago soyoils, Dalian vegetable oils

ReutersApr 15, 2025 2:52 AM

- Malaysian palm oil futures fell for a second consecutive session on Tuesday, weighed down by lacklustre performances in Chicago soyoil and Dalian vegetable oils.

The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange lost 69 ringgit, or 1.65%, to 4,101 ringgit ($931.20) a metric ton by 0231 GMT.

FUNDAMENTALS

* Dalian's most-active soyoil contract DBYcv1 fell 0.49%, while its palm oil contract DCPcv1 was down 0.73%. Soyoil prices on the Chicago Board of Trade (CBOT) BOc2 lost 0.45%.

* Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market.

* Oil prices climbed in early trading, boosted by new tariff exemptions floated by U.S. President Donald Trump and a rebound in China crude oil imports in anticipation of tighter Iranian supply.O/R

* Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

* Palm oil FCPOc3 may retest support at 4,072 ringgit per metric ton, a break below could trigger a drop to 4,026 ringgit, Reuters technical analyst Wang Tao said.TECH/C

MARKET NEWS

* Asia shares edged higher, helped by gains in auto companies after U.S. President Donald Trump suggested he might grant exemptions on auto-related levies already in place.MKTS/GLOB

DATA/EVENTS

0600 UK Claimant Count Unem Chng March

0600 UK ILO Unemployment Rate Feb

0600 UK HMRC Payrolls Change March

0645 France CPI (EU Norm) Final MM, YY March

0645 France CPI YY NSA, MM NSA March

0900 Germany ZEW Economic Sentiment, ZEW Current Conditions Apr

1100 EU Reserve Assets Total March

1230 US Import Prices YY March

($1 = 4.4040 ringgit)

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01. * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 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                       OILS/ASIA1 Malaysian palm oil exports           SGSPALM1   CBOT soyoil futures                  0#BO:      CBOT soybean futures                 0#S:       Indian solvent                       SOLVENT01  Dalian Commodity Exchange            DC/MENU   Dalian soyoil futures                0#DBY:   Dalian refined palm oil futures      0#DCP:   Zhengzhou rapeseed oil               0#COI:   European edible oil prices/trades    OILS/E
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