Yahoo Finance VEGOILS-Palm oil slides on overnight soyoil losses
* Palm prices hit 3-session peak earlier in day
* Bearish production outlook weighs on mkt - trader
* M'sia April 1-25 palm export data up 1.4-8.9 pct - cargo
surveyors
(Updates with closing prices)
By Emily Chow
KUALA LUMPUR, April 25 (Reuters) - Malaysian palm oil
futures charted a third session of loses in four on Thursday
evening, tracking weakness in overnight U.S. soyoil prices and
on forecasts of slower-than-expected declines in output.
The benchmark palm oil contract for July delivery
on the Bursa Malaysia Derivatives Exchange was down 0.6 percent
at 2,157 ringgit ($521.77) a tonne at the close of trade, after
earlier rising to a three-day top of 2,179 ringgit.
"Front-month palm prices are under pressure on production
outlook," said a Kuala Lumpur-based trader, adding that this
caused palm prices to fall in early trade.
"The market is still sideways, waiting for fresh direction."
Another trader said overnight declines in soyoil prices on
the U.S. Chicago Board of Trade weighed on palm oil prices,
while a weaker ringgit limited the fall.
"Due to soy's prices, Malaysia's export data had no effect,"
he said.
Malaysian palm oil exports rose between 1.4-8.9 percent
during April 1-25 versus the corresponding period last month,
according to data from three cargo surveyors on Thursday.
Weakness in the ringgit, palm oil's traded currency, usually
makes the edible oil cheaper for foreign buyers. The ringgit was
down 0.2 percent at 4.1340 per dollar.
In other related oils, the Chicago May soybean oil contract
fell 0.5 percent on Wednesday, and was up 0.3 percent on
Thursday.
Soybean prices had declined on ample global supplies and
dimming prospects for U.S. exports.
The May soyoil contract on the Dalian Commodity Exchange
fell 0.2 percent, and the Dalian May palm oil contract
was down 0.3 percent.
Palm oil prices are affected by movements in soyoil, as they
compete for a share in the global vegetable oil market.
Palm, soy and crude oil prices at 1040 GMT
Contract Month Last Change Low High Volume
MY PALM OIL MAY9 2050 -29.00 2050 2078 230
MY PALM OIL JUN9 2129 -21.00 2129 2156 3631
MY PALM OIL JUL9 2157 -13.00 2156 2179 15578
CHINA PALM OLEIN MAY9 4314 -12.00 4310 4338 29018
CHINA SOYOIL MAY9 5276 -10.00 5268 5294 34172
CBOT SOY OIL MAY9 28 +0.08 27.9 28 1803
INDIA PALM OIL APR9 539.20 +1.00 537.80 539.6 582
INDIA SOYOIL MAY9 747.55 +4.15 738.8 748.5 10530
NYMEX CRUDE JUN9 66.14 +0.25 65.54 66.28 119714
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
* For a table on Malaysian physical palm oil prices,
including refined oil, Reuters Terminal users can double click
on or type.
* 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
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* For more vegetable oil related stories, please click
Vegetable oils --
Malaysian palm oil exports --
CBOT soyoil futures --
CBOT soybean futures --
Indian solvent --
Weekly Indian vegetable oils --
Dalian Commodity Exchange --
Dalian soyoil futures --
Dalian refined palm oil futures --
Zhengzhou rapeseed oil --
European edible oil prices/trades --
($1 = 4.1340 ringgit)
($1 = 70.2025 Indian rupees)
($1 = 6.7438 Chinese yuan)
(Reporting by Emily Chow; Editing by Subhranshu Sahu)
