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apple developer:VEGOILS-Rival soy helps palm oil notch longest winning streak in nearly 19 years


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,KUALA LUMPUR, March 16 - Malaysian palm oilfutures climbed on Tuesday for a 10th straight day, the longestconsecutive daily gain since June 2002, tracking strength inrival edible soyoil while improving March export numbers alsolifted market sentiment. The benchmark palm oil contract for June deliveryon the Bursa Malaysia Derivatives Exchange gained 17 ringgit, or0.42%, to 4,037 ringgit ($981.76) a tonne during early trade. FUNDAMENTALS * Exports of Malaysian palm oil products for March 1-15 fell1% to 549,273 tonnes from the same period in February, butslower than an 18% monthly decline during March 1-10, accordingto data by Societe Generale de Surveillance. * European Union palm oil imports in the 2020/21 season thatstarted last July reached 3.87 million tonnes, compared with4.01 million a year ago, data published by the EuropeanCommission showed on Monday. * Dalian's most-active soyoil contract rose 1%,while its palm oil contract gained 0.5%. Soyoil priceson the Chicago Board of Trade were up 0.4%. * Palm oil is affected by price movements in related oils asthey compete for a share in the global vegetable oils market. * Palm oil may drop into a range of 3,959 ringgit to 4,008ringgit per tonne, as it has left a rising channel, Reuterstechnical analyst Wang Tao said. MARKET NEWS * Asian stocks were set to open higher on Tuesday after WallStreet's main indexes closed at record highs and investorsawaited comments from the U.S. central bank's meeting later thisweek. DATA/EVENTS 0745 France CPI (EU Norm) Final MM, YY Feb 1000 Germany ZEW Economic Sentiment March 1000 Germany ZEW Current Conditions March 1230 US Retail Sales MM Feb 1315 US Industrial Production MM Feb U.S. Federal Open Market Committee starts two-day meeting on interest rates ($1 = 4.1120 ringgit) REUTERS


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