Malaysian palm oil futures fell on Monday for the sixth straight session, as weakness in soyoil and crude oil and a stronger ringgit pressured the market, with U.S. tariff concerns also fuelling the downturn.
The benchmark palm oil contract 
FCPO1! for July delivery on the Bursa Malaysia Derivatives Exchange slid 46 ringgit, or 1.16%, to 3,929 ringgit ($895.80) a metric ton at the midday break.
Crude palm oil futures eased on weaker soybean oil and crude oil, reflecting the negative global sentiment stemming from the U.S tariff policies, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd.
“A stronger ringgit is also seen as a weighing factor on prices.”
Dalian’s most-active soyoil contract (DBYcv1) fell 0.41%, while its palm oil contract CPO1! shed 1.4%. Soyoil prices on the Chicago Board of Trade 
ZL1! dropped 0.12%.
Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market.
Cargo surveyor Intertek Testing Services estimated exports of Malaysian palm oil products to have risen 11.9% during April 1-20, while AmSpec Agri Malaysia’s estimate will be released later in the day.
Oil fell more than 1.5% as investors once again focused on concerns that U.S. tariffs on trading partners will create economic headwinds that will reduce fuel demand growth. O/R
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
The ringgit 
USDMYR, palm’s currency of trade, strengthened 0.54% against the dollar, making the commodity more expensive for buyers holding foreign currencies.
Palm oil may keep falling into the 3,875-3,929 ringgit per metric ton range as suggested by a projection analysis, Reuters technical analyst Wang Tao said. TECH/C
Thomson Reuterstech
($1 = 4.3860 ringgit)