KUALA LUMPUR (May 2): Malaysian palm oil futures fell nearly 4% on Thursday evening to their lowest in almost five months, weighed down by weakness in U.S. soyoil prices on the Chicago Board of Trade and weak demand sentiment. Malaysia announced this week that it would defer the imposition of an export duty on crude palm oil to Dec 31, in an effort to boost palm oil exports and expand in new markets. Palm prices have been rangebound over the past two months, because of high end-stocks and flat demand. Stockpiles in Malaysia had climbed to their highest in at least 19 years in December before easing 4.6% in March, data from the Malaysian Palm Oil Board (MPOB) showed. Palm, soy and crude oil prices at 1133 GMTContract Month Last Change Low High VolumeMY PALM OIL MAY9 1950 -63.00 1923 1979 119MY PALM OIL JUN9 2000 -63.00 1989 2060 4962MY PALM OIL JUL9 2028 -63.00 2016 2090 21553CHINA PALM OLEIN MAY9 0 +0.00 0 0 0CHINA SOYOIL MAY9 0 +0.00 0 0 0CBOT SOY OIL MAY9 27.25 -0.13 27.25 27.42 652INDIA PALM OIL MAY9 519.50 -4.20 518.80 525.6 1216INDIA SOYOIL MAY9 736 -4.05 735.25 742.4 8450NYMEX CRUDE JUN9 62.91 -0.69 62.72 63.68 141272Palm oil prices in Malaysian ringgit per tonneCBOT soy oil in U.S. cents per poundDalian soy oil and RBD palm olein in Chinese yuan per tonneIndia soy oil in Indian rupee per 10 kgCrude in U.S. dollars per barrel(US$1 = 4.1355 ringgit)(US$1 = 69.3900 Indian rupees)(US$1 = 6.7337 Chinese yuan)

Source: The Edge Markets May 02, 2019 14:26 UTC