VEGOILS-Palm opens lower on weaker Chicago soyoil, crude oil

KUALA LUMPUR, April 4 (Reuters) - Malaysian palm oil futures opened lower on Friday, weighed down by weaker Chicago soyoil and crude oil prices as U.S. President Donald Trump's reciprocal tariffs kicked into high gear a global trade war that threatens to stoke inflation and stall growth. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange slid 92 ringgit, or 2.05%, to 4,397 ringgit ($993.67) a metric ton in early trade. The contract fell 0.62% on Thursday. FUNDAMENTALS * Soyoil prices on the Chicago Board of Trade (CBOT) BOcv1 fell 0.45%. The Dalian Commodity Exchange is closed for the Qingming Festival and will reopen on Monday. * Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market. * Oil eased further in early Asian trade and was set for the worst week in months over fresh U.S. tariffs, further stoking concerns over a global trade war that could weigh on oil demand. O/R * Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. * Several countries have threatened to ratchet up a trade war with the U.S. as Trump's sweeping tariffs ignited fears of steep price rises in the world's largest consumer market. * The ringgit MYR= , palm's currency of trade, strengthened 0.38% against the U.S. dollar, making the commodity more expensive for buyers holding foreign currencies. * Palm oil may retest support at 4,347 ringgit per metric ton, a break below which could trigger a fall into the 4,266-4,303 ringgit range, Reuters technical analyst Wang Tao said. TECH/C MARKET NEWS * Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month, while gold flirted with a record peak as investors feared U.S. President Donald Trump's sweeping tariffs would tip the global economy into a recession. MKTS/GLOB DATA/EVENTS 0600 Germany Industrial Orders MM Feb 0600 Germany Manufacturing O/P Cur Price SA Feb 0600 Germany Consumer Goods SA Feb 0830 UK S&P GLOBAL PMI: MSC COMPOSITE - OUTPUT 1230 US Non-Farm Payrolls Mar 1230 US Unemployment Rate Mar 1230 US Average Earnings YY Mar ($1 = 4.4250 ringgit) <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/3XLeyr4 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Ashley Tang; Editing by Sumana Nandy) ((ashley.tang@thomsonreuters.com;)) ((For a table on Malaysian physical palm oil prices, including refined oil, Reuters Terminal users can double click on or type OILS/MY01 . * To view freight rates from Peninsula Malaysia/Sumatra to China, India, Pakistan and Rotterdam, please key in OILS/ASIA2 and press enter, or double click between the brackets. * Reuters Terminal users can see cash and futures edible oil prices by double clicking on the codes in the brackets: To go to the next page in the same chain, hit F12. To go back, hit F11. Vegetable oils OILS/ASIA1 Malaysian palm oil exports SGSPALM1 CBOT soyoil futures 0#BO: CBOT soybean futures 0#S: Indian solvent SOLVENT01 Dalian Commodity Exchange DC/MENU Dalian soyoil futures 0#DBY: Dalian refined palm oil futures 0#DCP: Zhengzhou rapeseed oil 0#COI: European edible oil prices/trades OILS/E ))