Malaysian palm oil futures on Monday were weighed down by reports of weak export data while market participants searched for direction as they awaited new clues.
Benchmark palm oil contract 
FCPO1! Bursa Malaysia Derivatives Exchange’s May delivery price was 19 ringgit above or 20 ringgit below Friday’s closing price of 3,851 ringgit, falling 0.23% to 3,844 ringgit ($805.03) per tonne at 0312 GMT. It rose 1.1% last week.
basics
*The soybean oil contract on the Dalian Commodity Exchange (DBYcv1) fell by 0.11%, and the palm oil contract fell by 0.11%. CPO1! It increased by 0.47%. Meanwhile, soybean oil prices on the Chicago Board of Mercantile Exchange (BOc2) rose 0.31%.
*Palm oil competes for a share in the global vegetable oil market and is therefore affected by price fluctuations of related oils.
*According to cargo research firm Intertek Testing Services, exports of Malaysian palm oil products from February 1st to 25th were 1,064,778 tons shipped from January 1st to 25th. The amount decreased by 7% to 951,409 tons.
– Oil prices fell in early Asian trading on Monday, after oil prices ended the week 2-3% lower, as markets worry that higher-than-expected inflation could delay a U.S. interest rate cut. Losses from trading increased.
*Palm oil is likely to retest support at RM3,813 per tonne and is likely to fall below this level towards RM3,789.
market news
* Asian stocks stalled near seven-month highs on Monday as investors awaited inflation data from the United States, Japan and Europe that would help refine expectations for future interest rate trends.
Data/Event (GMT)
1500 US new home sales (January)
(1 dollar = 4.7750 ringgit)
