How to trade Crude Palm Oil Futures ( FCPO ) 19122016

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Malaysia Jan. Crude Palm Oil Export Tax Raised to 7%

Palm oil for March delivery, most-active contract by volume, gains as much as 1.3% to 3,202 ringgit/ton on Bursa Malaysia Derivatives; trades at 3,201 ringgit by midday break in Kuala Lumpur.

• “Palm futures are getting support from firm soybean oil and Dalian markets, with the weak ringgit providing underlying support,” says Chandran Sinnasamy, head of dealing at LT International Futures in Kuala Lumpur
• NOTE: Ringgit Dips to Weakest Level Since 1998 Asia Financial Crisis
• Soybean oil for Jan. delivery on Chicago Board of Trade +0.7% to 36.98c/lb; Jan. soybeans little changed at $10.37/bu
• May refined palm oil on Dalian Commodity Exchange +1.6% to 6,512 yuan/ton; May soybean oil +2.4% to 7,326 yuan/ton
• Malaysia’s Dec. 1-20 palm oil exports may remain weak: Sinnasamy
• NOTE: Malaysia’s Dec. 1-15 palm oil exports -7.6% m/m to 481,349 tons: Intertek; shipments -9.6% m/m to 464,582 tons: SGS
• Soybean oil’s premium over palm oil at ~$99/ton vs avg ~$93 over past year: data compiled by Bloomberg
• Palm oil’s premium over gasoil at ~$224/ton vs avg ~$233 over past year: data compiled by Bloomberg