VEGOILS - Buy more bargains, but the ringgit is stronger; economic uncertainty limits gains
The price of palm oil in Malaysia rose on Tuesday. This was due to bargain-buying, but the stronger ringgit, as well as economic uncertainty, limited gains. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for July delivery rose 8 ringgit (0.2%), to $3,918 ringgit (US$895.5) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, explained that the rise in crude palm oil futures was due to bargain buyers, as prices were currently discounted compared to soyoil. He said that the recovery in energy and soyoil prices, along with an improved demand from India, has also helped to boost palm oil prices.
Palm oil falls on firmer Ringgit, weaker soyoil and crude oil
Malaysian palm futures continued to fall on Monday, for the sixth consecutive session. The market was weighed down by a weaker ringgit, a decline in crude oil, and the weakness of soyoil. Concerns about U.S. trade tariffs also contributed to the drop. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for July delivery fell 64 ringgit or 1.61% to $3,911 ringgit (US$895.58) per metric ton. The price of crude palm oil futures fell on the back of lower soybean oil and crude oils, reflecting the global negative sentiment resulting from U.S. tariff policies. David Ng is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn. Bhd.
Palm oil falls due to weaker soyoil and a firmer Ringgit
Malaysian palm futures declined on Monday for a sixth consecutive session as a result of a weaker ringgit, a decline in crude oil, and the weakness of soyoil. Concerns about U.S. trade tariffs also contributed to the drop. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for July delivery fell 46 ringgit or 1.16% to 3,929 Ringgit ($895.80), a metric tonne. The price of crude palm oil futures fell on the back of lower soybean oil and crude oils, reflecting the global negative sentiment resulting from U.S. tariff policies. David Ng is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn. Bhd.
Palm trades lower than Chicago soyoil amid concerns about economic headwind
Malaysian palm futures continued to fall on Monday as they tracked the weakness of rival soyoil on the Chicago market. Meanwhile, escalating U.S. China trade tensions despite a suspension of tariffs for other countries also weighed down sentiment. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia had fallen 45 ringgit or 1.07% to 4,167 Ringgit ($943.19) per metric ton. "Following a 90-day suspension of tariffs by the U.S. concerns about broader economic headwinds, and lingering uncertainty have continued to cap the upside of any meaningful amount…
Palm trades lower and is set to suffer a second weekly loss
The Malaysian palm futures contract reversed its morning gains as it sought new directions. It is now heading towards a second weekly loss. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia had fallen 27 ringgit or 0.64% to 4,173 Ringgit ($941.14) per metric ton. This week, the contract has fallen by 3.58%. A Kuala Lumpur trader stated that the futures are consolidating after recent falls before plotting a different direction based upon this month's data on exports and production. Data from the industry regulator on Thursday showed that Malaysian palm oil stocks rose for the first time in six months as production recovered…
US EIA warns that tariffs and trade uncertainties will lower oil demand
The U.S. Energy Information Administration's (EIA's) monthly short-term Energy Outlook report on Thursday said that recent developments in global trade policies are expected to reduce global oil and fuel consumption growth through 2026. As a result of the uncertainty created by a possible lower global growth rate and higher oil supplies, the U.S. Department of Energy’s statistical arm has cut its forecasts of U.S. oil demand and global oil consumption growth for this year and next. Since U.S. president Donald Trump announced last week a blanket 10% duty on all U.S.
Palmetto prices end higher in Dalian and rising inventories
Malaysian palm oils futures rose on Thursday, wiping out the losses of the previous session. They were supported by strong rival oils in Dalian, and data from Malaysian Palm Oil Board, which showed an increase in March inventories. The benchmark June palmoil contract traded on the Bursa Derivatives Exchange in Malaysia gained 53 ringgit or 1.28% to 4,201 Ringgit ($940.66) per metric ton. A Kuala Lumpur trader stated earlier that "the futures react to the rival oil's rise", adding that the export data from MPOB will give clues on the way forward. Dalian's palm oil contract, which is the most active contract, gained 1.37% while soyoil prices increased by 0.84%.
Malaysian palm oil surpasses rival edible oils
Malaysian palm futures rose on Thursday, erasing the losses of last session, and tracking stronger competing edible oils. Data from the Malaysian Palm Oil Board showed an increase in inventories for March. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia gained 65 ringgit or 1.57% to 4,213 Ringgit ($941.87) per metric ton. A Kuala Lumpur trader stated that "the futures react to the rival oil's rise", adding that export data would provide clues as to the direction of the market. The MPOB reported that Malaysian palm oil stocks rose by 3.52% from the previous month, to 1,56 million metric tonnes at the end March.
Palm oil ends lower than rival oils as tariff wars cause anxiety
Malaysian palm futures ended lower on Wednesday. They erased last session's gains. This was due to the decline of rival edible oils traded in Dalian and Chicago, and the growing economic anxiety over tariff wars. The benchmark June palm-oil contract at Bursa Malaysia's Derivatives exchange fell 42 ringgit or 1% to 4,146 Ringgit ($922.56) per metric ton. "Price movement is currently driven by the market sentiment and broader concerns, especially around the ongoing tariff battles," said Darren Lim. Commodities strategist at Singapore-based Phillip Nova. As the markets struggle with uncertainty, the palm oil sector has been caught up in the downward trend.
Palm oil trades lower than rival oils amid fears of tariff wars
Malaysian palm futures continued to lose on Wednesday. They erased last session's gains. This was due to the competition from edible oils traded in Dalian and Chicago, and the growing economic anxiety over tariff wars. By midday, the benchmark June palm-oil contract traded on Bursa Malaysia's Derivatives exchange fell 100 ringgit or 2.39% to 4,088 Ringgit ($909.66). "Price movement is currently driven by the market sentiment and broader concerns, especially around the ongoing tariff battles," said Darren Lim. Commodities strategist at Singapore-based Phillip Nova. As the markets struggle with uncertainty, the palm oil sector has been caught up in a downward trend.
Palm oil is gaining to follow Chicago soyoils and crude oil higher
Malaysian palm oils futures climbed slightly higher on Tuesday after three sessions of losses. They mirrored the movement in crude oil, Chicago soyoil and other commodities, but concerns over high Malaysian stocks of palm oil capped gains. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange for June delivery gained 2 ringgit (0.05%) to 4,187 Ringgit ($932.72) per metric ton. Early in the session the contract climbed as high as 2.27%, but palm oil "struggled" to remain upbeat due to weak fundamentals, a Kuala Lumpur based trader noted, citing the expectation of higher stock levels in March.
Palm oil is gaining to follow Chicago soyoils and crude oil higher
The price of Malaysian palm oils futures rose on Tuesday. This ended a three-session losing streak, boosted by the strength of crude oil, Chicago soyoil and a weaker Ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 1.15%, to 4,233 Ringgit ($944.87) per metric ton. Fears of an expanding global trade war led to a partial recovery of the 7.5% loss that the contract had suffered over the previous three sessions. Palm oil prices mirror the recovery in the energy markets and U.S. Soyoil Prices - Oil prices increased more than 1% and soyoil on the Chicago Board of Trade gained 0.90%.
US EIA delays short-term outlook report amid oil market downturn
Energy Information Administration (EIA) in the United States announced on Monday that it will delay publication of its "Short-Term Energy Outlook Report" (STEO), amid a drop in oil prices nearing four-year lows due to growing fears of a worldwide recession. EIA announced in an email that the report scheduled for publication on Tuesday, April 8 will now be released on Thursday, 10 April at 12:00 noon EDT (1600 GMT). The EIA has re-run the models for STEO forecasts in order to reflect recent market developments. The STEO monthly report provides the EIA’s predictions for U.S.
Palm extends its losses as soyoil and crude oil prices fall
Malaysian palm futures dropped to a 10-week-low on Monday. Pressured by lower soyoil prices and crude oil, fears of a trade war arose from China's retaliatory duties on U.S. products. The benchmark contract for palm oil delivery in June on Bursa Derivatives exchange fell 146 ringgit or 3.37% to close at $4,182 Ringgit ($934.32) per metric ton. Earlier in the session, the contract reached a low of 4163 ringgit. This was its lowest level since 24 January. The contract has fallen 6.84% in three sessions. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group…
VEGOILS-Palm falls tracking weaker soyoil, crude oil prices
Malaysian palm futures declined on Monday for the third consecutive session. They were weighed down on lower soyoil prices and crude oil, while China's retaliatory duties on U.S. products raised fears of an international trade war. At midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery fell 57 ringgit or 1.32% to 4,271 Ringgit ($957.62). Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that crude palm oil futures fell, following a sharp drop in Chicago soyoil prices and falling energy costs. China's announcement to impose 34% tariffs in retaliation on U.S.
As Trump tariffs cause demand concerns, refining stocks plummet to levels not seen in two years.
Investors were rattled by fears about a slowdown in oil and fuel consumption and a decline in refining margins after President Trump announced new tariffs. According to LSEG data, the market capitalization of top refiners Marathon Petroleum and Valero Energy, as well as Phillips 66, has dropped by more than 20 billion dollars since Trump announced new tariffs Wednesday afternoon. Alan Gelder is vice president for refining chemicals and oil markets, Wood Mackenzie. The price of crude oil futures was at its lowest level in four years, and headed for the biggest weekly percentage loss in over two years.
Palm oil falls as fears over Trump's tariffs weigh on crude and soyoil
The price of Malaysian palm oil futures fell on Friday due to the weaker Chicago crude oil and soyoil prices. This was a result of President Donald Trump’s reciprocal tariffs, which increased uncertainty in global trade. The benchmark contract for palm oil delivery in June on Bursa Derivatives Exchange fell 160 ringgit or 3.56% to 4,329 Ringgit ($976.32) per metric ton. The contract dropped by 2.04%, wiping out the gains of the previous week. A Kuala Lumpur based trader reported that crude palm oil futures followed the weaker prices of soybean and crude oil due to global uncertainty following Trump's tariff announcement.
Palm oil prices fall as Trump tariffs cause profit booking
Malaysian palm futures fell on Thursday, ending a four session rally. Profit-taking was a factor in the decline, following President Donald Trump’s tariffs against trade partners. At the close, the benchmark palm oil contract on the Bursa Derivatives Exchange for June delivery fell 27 ringgit (0.6%), to 4,490 Ringgit ($1,011.26) per metric ton. Paramalingam Supramaniam of Selangor's brokerage Pelindung Bestari said that the crude palm oil futures fell as Trump's new tariffs caused profit-taking. Paramalingam expects that prices will remain relatively stable in the second half of the year, as the demand for the product increases in April and may, along with production.
Palm prices fall as Trump tariffs lead to profit booking
Malaysian palm futures fell on Thursday after a four session rally. Profit-taking was blamed for the decline, following President Donald Trump’s tariffs against trade partners. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery fell 56 ringgit or 1.24% to 4,461 Ringgit ($1,000.22). Paramalingam Supramaniam of Selangor's brokerage Pelindung Bestari said that the crude palm oil futures fell as Trump's new tariffs caused profit-taking. Paramalingam expects that prices will remain relatively stable in the second half of the year, as the demand for the product increases in April and may, along with production.
Palm oil climbs as Chicago soyoil and crude oil prices firm up
The market for Malaysian palm oils futures rose on Wednesday, marking the fourth session in a row. This was due to gains in Chicago soyoil prices and energy. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 99 ringgit or 2.24% to 4,518 Ringgit ($1,015.05) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays, due to a rally on Chicago soyoil and energy prices. Bagani stated that U.S. soybean oil prices increased after news of oil and biofuels groups meeting with the U.S.
