,KUALA LUMPUR, March 22 - Malaysian palm oilfutures firmed on Monday, supported by an uptick in exportsduring March 1-20, but weakness in rival soyoil weighed onprices. The benchmark palm oil contract for June deliveryon the Bursa Malaysia Derivatives Exchange gained 3 ringgit, or0.08%, to 3,727 ringgit a tonne in early trade. Palm fell nearly 10% in the previous session. FUNDAMENTALS * Exports of Malaysian palm oil products for March 1-20 rosebetween 5% and 7% from the same period in February, cargosurveyors said on Saturday. * Favorable weather, increased use of fertilizer and surgingprices are expected to push Indonesia's palm oil production andexports to record highs in 2021/22, U.S. Department ofAgriculture's Foreign Agricultural Service post in Jakarta saidin a report on Saturday. * Dalian's most-active soyoil contract rose 0.1%,while its palm oil contract gained 0.7%. Soyoil priceson the Chicago Board of Trade were down 0.7%. * Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market. * Oil prices resumed their decline, falling around 1% asworries about a drop in demand for fuel products in the wake offurther lockdowns in Europe dominated trading. * Weaker crude oil futures make palm a less attractiveoption for biodiesel feedstock. * Palm oil may test a resistance at 3,798 ringgit per tonne,a break above which could lead to a gain to 3,948 ringgit,Reuters technical analyst Wang Tao said. MARKET NEWS * Asian markets turned mixed and bonds bounced, as a plungein the Turkish lira sparked talk that capital controls might beneeded to stem the rout, though the wider fallout was relativelyrestrained for the moment. DATA/EVENTS 1400 US Existing Home Sales Feb REUTERS
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