VEGOILS-Palm slips to one-week low on weaker global markets By Reuters


VEGOILS-Palm slips to one-week low on weaker global markets

KUALA LUMPUR, June 3 (Reuters) – Malaysian palm oil futures fell about 1% in early trade on Monday, weighed by weakness in global financial and commodities markets.

Stocks and commodities markets worldwide slumped, following U.S. president Donald Trump’s move to impose a tariff on all goods coming from Mexico starting at 5%. palm oil contract for August delivery 1FCPOc3 on the Bursa Malaysia Derivatives Exchange was last down 1.2% at 2,045 ringgit ($489.18) per tonne.

FUNDAMENTALS

* Palm oil may fall to 2,030 ringgit, as it failed to break a resistance at 2,111 ringgit per tonne, said Wang Tao, a Reuters market analyst for commodities and energy technicals. TECH/C

* U.S. wheat futures rose 1% on Monday as heavy rains across a key North American growing region stoked fears of potential crop losses. GRA/

* Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday, when crude markets racked up their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown. O/R

MARKET NEWS

* U.S. stock futures, Asian share markets and oil prices slipped to multi-month lows on Monday on worries that intensifying Sino-U.S. tension and Washington’s new tariff threats against Mexico could tip the global economy into a recession. MKTS/GLOB

* The yen brushed a more than four-month high against the dollar on Monday as U.S. President Donald Trump’s hard stance on trade broadened to countries beyond China, forcing investors to safe-haven assets, including government bonds. USD/

* U.S. stocks dropped on Friday, as the closed out the month with its biggest May slump since 2010, following Trump’s latest surprise threat. .N

For more vegetable oil-related stories, please click TOP/GRO

DATA/EVENTS (GMT)

0750

France

Markit Mfg PMI

May 0755

Germany Markit/BME Mfg PMI

May 0800

EU

Markit Mfg Final PMI May 0830

UK

Markit/CIPS Mfg PMI

May 1400

US

ISM Manufacturing PMI May

Palm, soy and prices at 0302 GMT Contract

Month Last Change

Low

High Volume MY PALM OIL

JUN9

0 +0.00

0

0

48 MY PALM OIL

JUL9

2029 -25.00 2029

2040

1123 MY PALM OIL

AUG9

2044 -25.00 2041

2055

3996 CHINA PALM OLEIN SEP9

4396 -80.00 4394

4464 413562 CHINA SOYOIL

SEP9

5432 -66.00 5426

5478 294624 CBOT SOY OIL

JUL9 27.52 -0.07 27.45 27.59

3793 INDIA PALM OIL

JUN9

0.00 +0.00 0.00

0

0 INDIA SOYOIL

JUN9

755 -2.05 747.8 757.55

8320 NYMEX CRUDE

JUL9 52.94 -0.56 52.11 53.43 83013 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 MYPALM/FLAT .

* 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 Weekly Indian vegetable oils

— OILS/IN

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

($1 = 4.1805 ringgit) ($1 = 69.5320 Indian rupees) ($1 = 6.8997 Chinese yuan)



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