Malaysian palm oil futures slipped around 1% to MYR 3,820 per tonne, shifting from a strong session the day before and notching their lowest level in 3-1/2 months, as caution grew ahead of Malaysia’s export data for the first half of May. Meanwhile, the country’s palm oil products for May 1-15 fell between 5.2 to 17.6% from the same period in April, according to Intertek Testing Services and AmSpec Agri. Traders also seemed cautious ahead of activity data in key buyer China Friday. Still, strength in rival oils on the Dalian and the CBOT capped the fall. In the US, soybean crush plunged to a 7-month low in April while soyoil stocks unexpectedly declined for the first time in 6 months, according to National Oilseed Processors Association (NOPA) data. Elsewhere, crude oil prices rose further after OPEC indicated that global demand will stay solid this year and next. In top buyer India, palm oil imports grew to their highest level in three months in April as lower prices lured buyers.
