XM does not provide services to residents of the United States of America.

Palm oil opens 2% lower ahead of Malaysia export estimates

<html xmlns="http://www.w3.org/1999/xhtml"><head><title>VEGOILS-Palm oil opens 2% lower ahead of Malaysia export estimates</title></head><body>

KUALA LUMPUR, April 30 (Reuters) -Malaysian palm oil futures fell on Tuesday after gaining for two consecutive sessions, as weaker crude oil prices weighed ahead of cargo surveyors' exports estimates for the month.

The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange slid 79 ringgit, or 2.02%, to 3,836 ringgit ($804.19) during early trade.

The contract lost 0.69% in overnight trade.


* Cargo surveyors are expected to release Malaysian palm oil exports estimates for April later on Tuesday.

* Oil edged down in early trade after Israel-Hamas ceasefire talks in Cairo helped quell market fears of an expanded conflict in the Middle East, while worries about the outlook for U.S. interest rates weighed on the market.

* Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.O/R

* Dalian's most-active soyoil contract DBYcv1 lost 0.65%, while its palm oil contract DCPcv1 slipped 1.51%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 1.44%.

* Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

* The Malaysian ringgit MYR=, palm's currency of trade, weakened 0.1% against the dollar, making the commodity less expensive for buyers holding the foreign currency.

* Palm oil may revisit its April 25 low of 3,817 ringgit per metric ton, as it failed twice to break resistance at 3,942 ringgit, Reuters technical analyst Wang Tao said. TECH/C


* Asian stocks inched higher on Tuesday as investors awaited a slew of economic data, corporate earnings and the U.S. Federal Reserve's policy meeting, while the yen was slightly weaker a day after suspected intervention rescued it from 34-year lows. MKTS/GLOB


0530 France GDP Preliminary QQ Q1

0645 France CPI (EU Norm) Prelim YY April

0645 France Producer Prices YY March

0755 Germany Unemployment Rate, Chg SA April

0800 Germany GDP Flash QQ SA, YY NSA Q1

0900 EU HICP Flash YY April

0900 EU HICP-X F, E, A&T Flash MM, YY April

0900 EU GDP Flash Prelim YY, QQ Q1

1400 US Consumer Confidence April

U.S. Federal Open Market Committee starts its two-day

meeting on interest rates

($1 = 4.7700 ringgit)

Reporting by Danial Azhar; Editing by Eileen Soreng

For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01. * 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 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

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.