VEGOILS-Palm slips on weak Chicago soyoil and crude oil, Trump tariff woes

(Updates for mid-session trading, adds trader's comment) KUALA LUMPUR, April 4 (Reuters) - Malaysian palm oil futures fell on Friday, weighed down by weaker Chicago soyoil and crude oil prices as U.S. President Donald Trump's reciprocal tariffs fuelled uncertainty around global trade and stoked fears of inflation and growth slowdown. The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange slid 126 ringgit, or 2.81%, to 4,363 ringgit ($988.00) a metric ton at the midday break. The contract fell 1.27% so far this week. Crude palm oil futures declined due to uncertainty about global trade following the tariff announcement by Trump, a Kuala Lumpur-based trader said. Palm oil prices fell tracking a decline in crude oil and soybean oil, the trader said. "Liquidations were heavy last night and have continued through midday today. While the physical market remains strong, futures are trading on a weaker note," the trader added. Soyoil prices on the Chicago Board of Trade (CBOT) BOcv1 eased 0.4%. 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 fuelling 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 0.54% 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 ($1 = 4.4160 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 ))