KUALA LUMPUR: Malaysian palm oil futures extended their decline on Monday to their lowest since Apr. 1. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was last down 0.1 percent at 2,115 ringgit ($511.98) a tonne.
FUNDAMENTALS
* Malaysian palm oil futures fell more than 2 percent during their second half of trade on Friday to their lowest in nearly a month, weighed down by weaker related edible oils.
* U.S. corn futures added nearly 1 percent on Monday to rise for a fourth session in a row as adverse weather threatened to further slow planting, pushing prices to a one-week high.
* Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of U.S. sanctions against Iran.
MARKET NEWS
* Asian stock markets edged up on Monday after surprising strong U.S. first-quarter economic growth boosted the S&P 500 index to a record high, but gains were capped by caution over less upbeat aspects in the GDP report which pointed to some weakening ahead.
* Calm settled over Asian currency markets on Monday as Japan kicked off a week of holidays, giving investors an extra excuse to sit on their hands ahead of a Federal Reserve policy meeting and U.S. jobs numbers.
* A surprisingly strong report card on the U.S. economy helped power the benchmark S&P 500 and Nasdaq Composite indexes to record high closes on Friday, capping a week of gains for stocks that came largely on the back of resilient corporate profits.
Comments
Comments are closed for this article.