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us apple developer accounts for sale:VEGOILS-Palm hits one-week low on weaker soyoil prices, lower exports

admin2021-03-0521

KUALA LUMPUR, March 2 - Malaysian palm oil futuresdeclined for a third straight session on Tuesday, slipping to aone-week low on weaker soyoil prices and as cargo surveyors saidexports in February witnessed a decline. The benchmark palm oil contract for May delivery onthe Bursa Malaysia Derivatives Exchange slid 75 ringgit, or2.04%, to 3,609 ringgit ($890.34) a tonne during early trade,its lowest since Feb. 23. FUNDAMENTALS * Exports of Malaysian palm oil products for February fell4.6% to 1,052,779 tonnes from January, with China and the UnitedStates cutting down purchases, cargo surveyor Societe Generalede Surveillance said. * European Union palm oil imports in the 2020/21 season was3.69 million tonnes, compared with 3.78 million a year ago, datapublished by the European Commission showed. * Dalian's most-active soyoil contract fell 0.3%,while its palm oil contract slipped 2.3%. Soyoil priceson the Chicago Board of Trade were down 0.3%. * Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market. * Palm oil may fall into a range of 3,466 ringgit to 3,545ringgit per tonne, as it could have completed a rally from theJan. 20 low of 3,160 ringgit, Reuters technical analyst Wang Taosaid. MARKET NEWS * Asian shares are poised to rally as a halt in a recentbond markets sell-off calmed investor nerves and lifted riskierassets. DATA/EVENTS 0030 Australia Building Approvals Jan 0030 Australia Current Account Balance Q4 0030 Australia Net Exports Contribution Q4 0330 Australia RBA Cash Rate March 0700 UK Nationwide House Price MM, YY Feb 0855 Germany Unemployment Chg, Rate Sa Feb 1000 EU HICP Flash YY Feb 1000 EU HICP-X F&E Flash YY Feb($1 = 4.0535 ringgit) REUTERS
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