Malaysian palm oil futures opened higher on Tuesday, and were set to snap six straight sessions of losses, tracking gains in rival edible oils and stronger crude oil prices.
The benchmark palm oil contract 
FCPO1! for July delivery on the Bursa Malaysia Derivatives Exchange added 14 ringgit, or 0.36%, to 3,924 ringgit ($896.30) a metric ton in early trade.
FUNDAMENTALS
* Dalian’s most-active soyoil contract (DBYcv1) rose 0.73%, while its palm oil contract CPO1! added 0.02%. Soyoil prices on the Chicago Board of Trade (CBOT) 
ZL1! were up 0.41%.
* Palm oil tracks the price movements of rival edible oils as it competes for a share of the global vegetable oils market.
* Oil prices climbed in early trade as investors took advantage of Monday’s losses to cover short positions, although concerns persisted over economic headwinds from tariffs that could dampen fuel demand. O/R
* Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.
* The ringgit 
USDMYR, palm’s currency of trade, weakened 0.25% against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies.
* Indonesia’s crude and refined palm oil exports dipped nearly 2% month-on-month in March as local consumption rose due to Ramadan. However, shipments remained at a four-year high in March.
* Palm oil may fall further into the 3,782-3,818 ringgit per metric ton range, as suggested by a projection analysis, Reuters technical analyst Wang Tao said. TECH/C
Thomson Reutersfcpo
MARKET NEWS
* Asian stock markets fought to hold their footing on Tuesday after a furious flight from U.S. assets undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries. MKTS/GLOB
DATA/EVENTS
1400 EU Consumer Confid. Flash Apr
($1 = 4.3780 ringgit)