May 13, 2019 / 2:57 AM / 2 months ago

VEGOILS-Palm opens nearly 1% lower in early trade

    KUALA LUMPUR, May 13 (Reuters) - Malaysian palm oil futures
fell nearly 1% in early trade on Monday, trading at its lowest
levels since end-November and in line for a fourth consecutive
day of decline.
    Benchmark palm oil contract for July delivery on
the Bursa Malaysia Derivatives Exchange was last down 0.8% at
1,968 ringgit ($472.96) a tonne. 
FUNDAMENTALS
* Malaysian palm oil futures fell more than 1% by Friday's
close, having touched a five-month low, as concerns over
U.S.-China trade conflict outweighed data showing easing
stockpiles and production.
* U.S. soybean futures fell on Monday to hit their lowest in
more than 10 years amid concerns over a prolonged trade war
between Washington and Beijing after talks between the two
appeared to be at an impasse.
* Oil futures edged lower on Monday, pressured by fears over
global economic growth amid a standoff in Sino-U.S. trade talks.

MARKET NEWS
* U.S. stock futures and Asian shares slipped on Monday on
growing uncertainty over whether the United States and China
will be able to reach a deal to end their escalating trade war.

* The safe-haven yen edged higher and the Chinese yuan and
Australian dollar dipped early on Monday after the latest
escalation in the trade war between the United States and China.

* Prospects for a drawn out trade war between the United States
and China sent S&P 500 futures sharply lower as trading resumed
on Sunday, after Washington demanded concrete changes to Chinese
law and Beijing said it would not swallow any "bitter fruit"
that harmed its interests.
For more vegetable oil-related stories, please click 
    
 DATA/EVENTS (GMT)

0130     Australia  Housing Finance   March
1200     India      CPI Inflation YY  April
                      
    Palm, soy and crude oil prices at 0234 GMT
 Contract          Month    Last  Change     Low    High  Volume
 MY PALM OIL       MAY9        0   +0.00       0       0       0
 MY PALM OIL       JUN9     1936  -15.00    1930    1937      21
 MY PALM OIL       JUL9     1969  -14.00    1960    1971    1211
 CHINA PALM OLEIN  MAY9     4094  -40.00    4094    4206     130
 CHINA SOYOIL      MAY9        0   +0.00       0       0       0
 CBOT SOY OIL      JUL9    26.39   -0.40   26.36   26.63    3876
 INDIA PALM OIL    MAY9     0.00   +0.00    0.00       0       0
 INDIA SOYOIL      MAY9   741.65   +1.40   740.7   742.8    3100
 NYMEX CRUDE       JUN9    61.57   -0.09   61.21   61.82   36847
  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
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                    -- 
Weekly Indian vegetable oils      --   
Dalian Commodity Exchange         --  
Dalian soyoil futures             --  
Dalian refined palm oil futures   --  
Zhengzhou rapeseed oil            --  
European edible oil prices/trades --

($1 = 4.1610 ringgit)
($1 = 70.0090 Indian rupees)
($1 = 6.8563 Chinese yuan)
    

 (Reporting by Emily Chow; editing by Uttaresh.V)
  
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