KUALA LUMPUR, Feb 26 - Malaysian palm oil fell 2%on Friday, hit by weaker rival soyoil on signs of poor demandand further weighed by slowing palm oil shipments, but theedible oil prices were headed for their biggest weekly jump infour. The benchmark palm oil contract for May delivery onthe Bursa Malaysia Derivatives Exchange slid 81 ringgit, or2.14%, to 3,703 ringgit ($915.00) a tonne in early trade. Palm is set to rise 5.7% for the week and 6.7% for themonth. FUNDAMENTALS * Exports of Malaysian palm oil products for Feb. 1-25 rose14.2% to 967,845 tonnes from Jan. 1-25, cargo surveyor SocieteGenerale de Surveillance said on Thursday. This is smallercompared to a 28% montly rise in exports during Feb. 1-20. * Dalian's most-active soyoil contract fell 0.6%,while its palm oil contract slipped 1.1%. Soyoil priceson the Chicago Board of Trade were down 0.6%. * Palm oil is affected by price movements in related oils,as they compete for a share in the global vegetable oils market. * Palm oil may test a resistance at 3,834 ringgit per tonne,a break above which could lead to a gain to 3,888 ringgit,Reuters technical analyst Wang Tao said. MARKET NEWS * Asian stocks skidded to one-month lows, as a rout inglobal bond markets sent yields flying and spooked investorsamid fears the heavy losses suffered could trigger distressedselling in other assets.* Oil prices fell on Friday as a collapse in bond prices ledto gains in the U.S. dollar and expectations grew that with oilprices back above pre-pandemic levels, more supply is likely tocome back to the market. DATA/EVENTS (GMT) 0745 France GDP QQ Final Q4 0745 France CPI (EU Norm) Prelim YY Feb 1200 India GDP Quarterly YY Q3 1330 US Consumption, Adjusted MM Jan 1500 US U Mich Sentiment Final Feb($1 = 4.0470 ringgit) REUTERS
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