Palm drops as rival oils drag; March exports, output data eyed

JAKARTA: Malaysian palm oil futures opened lower on Wednesday, tracking losses in rival oils, with traders awaiting key soy planting reports from the United States.

The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange fell 1.76% to 3,509 ringgit ($844.93) per tonne during early trade, extending from a 4.6% drop a day earlier.

The contract is set to post a monthly decline in March.

On investors' radar are Malaysia's monthly exports and production data due to be released this week.