Malaysian palm oil futures opened lower on Friday, weighed down by weaker Chicago soyoil and crude oil prices as U.S. President Donald Trump’s reciprocal tariffs kicked into high gear a global trade war that threatens to stoke inflation and stall growth.
The benchmark palm oil contract 
FCPO1! for June delivery on the Bursa Malaysia Derivatives Exchange slid 92 ringgit, or 2.05%, to 4,397 ringgit ($993.67) a metric ton in early trade.
The contract fell 0.62% on Thursday.
FUNDAMENTALS
* Soyoil prices on the Chicago Board of Trade (CBOT) 
ZL1! fell 0.45%. The Dalian Commodity Exchange is closed for the Qingming Festival and will reopen on Monday.
* Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market.
* Oil eased further in early Asian trade and was set for the worst week in months over fresh U.S. tariffs, further stoking concerns over a global trade war that could weigh on oil demand. O/R
* Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
* Several countries have threatened to ratchet up a trade war with the U.S. as Trump’s sweeping tariffs ignited fears of steep price rises in the world’s largest consumer market.
* The ringgit 
USDMYR, palm’s currency of trade, strengthened 0.38% against the U.S. dollar, making the commodity more expensive for buyers holding foreign currencies.
* Palm oil may retest support at 4,347 ringgit per metric ton, a break below which could trigger a fall into the 4,266-4,303 ringgit range, Reuters technical analyst Wang Tao said. TECH/C
Thomson Reuterscpo
MARKET NEWS
* Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month, while gold flirted with a record peak as investors feared U.S. President Donald Trump’s sweeping tariffs would tip the global economy into a recession. MKTS/GLOB
DATA/EVENTS
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0830 UK S&P GLOBAL PMI: MSC COMPOSITE – OUTPUT
1230 US Non-Farm Payrolls Mar
1230 US Unemployment Rate Mar
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($1 = 4.4250 ringgit)