Malaysian palm oil futures opened lower for a second consecutive session on Tuesday, weighed down by weaker rival edible oils and crude oil prices.
The benchmark palm oil contract 
FCPO1! for May delivery on the Bursa Malaysia Derivatives Exchange slid 49 ringgit, or 1.09%, to 4,450 ringgit ($1,004.29) a metric ton in early trade.
FUNDAMENTALS
* Dalian’s most-active soyoil contract (DBYcv1) fell 1.4%, while its palm oil contract CPO1! shed 2.75%. Soyoil prices on the Chicago Board of Trade 
ZL1! were down 0.19%.
* Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
* Oil prices fell for a second day in early trade on concerns that U.S. tariffs on Canada, Mexico and China would slow economies around the world and hurt energy demand while OPEC+ ramps up its supply. O/R
* Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
* The ringgit 
USDMYR, palm’s currency of trade, weakened 0.23% against the dollar, making the commodity cheaper for buyers holding foreign currencies.
* Cargo surveyors estimated that exports of Malaysian palm oil products during March 1-10 fell between 25.8% and 38.3%, compared with the same period a month ago.
* Indonesian prosecutors handed over more than 221,000 hectares (546,000 acres) of illegal palm oil plantations seized as part of an ongoing corruption probe to a new state-owned company that will manage them.
* Palm oil may fall towards 4,360 ringgit per metric ton, as it failed to break resistance at 4,642 ringgit, Reuters technical analyst Wang Tao said. TECH/C
Thomson Reuterscpo
MARKET NEWS
* Asian stocks took their cue from the Wall Street and fell sharply on Tuesday as worries mounted that a wide-ranging trade war could dent U.S. economic growth and result in a recession, leading skittish investors to the safe-haven Japanese yen. MKTS/GLOB
DATA/EVENTS
No major data/events
($1 = 4.4310 ringgit)