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

Palm oil recovers from early losses in range-bound trading



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>VEGOILS-Palm oil recovers from early losses in range-bound trading</title></head><body>

JAKARTA, April 2 (Reuters) -Malaysian palm oil futures recovered in range-bound trading on Tuesday after slipping earlier, as gains eased in rival edible oils.

The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange rose 0.21% to 4,276 ringgit ($900.78) a metric ton, as of 0305 GMT, after falling as much as 0.98% earlier in the session.


FUNDAMENTALS

* The soyoil contract DBYcv1 on the Dalian Commodity Exchange gained 0.57%, while its palm oil contract DCPcv1 was up 0.53%. Soyoil prices on the Chicago Board of Trade BOc2 barely change.

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

* Exports of Malaysian palm oil products for March seen rising between 20.5% and 29.2%, cargo surveyor Intertek Testing Services and AmSpec Agri Malaysia said.

* Malaysian ringgit, the contract currency of trade slips 0.4% at 0215 GMT. A weaker ringgit makes palm more attractive to foreign currency holders.

* Palm oil FCPOc3 may rise into a range of 4,294-4,326 ringgit per metric ton, as it has briefly pierced above a falling channel, according to Reuters' technical analyst Wang Tao.


MARKET NEWS

* Asian stocks rose and the dollar firmed, keeping Japan's yen pinned near the 152-per-dollar levels that has traders worried about possible intervention, as expectations that the Federal Reserve was close to cutting interest rates faded. MKTS/GLOB

* Oil prices gained in early Asian trading, underpinned by signs of improved demand and escalating Middle East tensions that had sparked a rally in U.S. futures to a five-month high in the previous session. O/R






($1 = 4.7470 ringgit)



Reporting by Bernadette Christina; Editing by Rashmi Aich

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
</body></html>

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.