EUR/USD
1.16022
-0.082%
Gold
5123.47
0.690%
Oil
73.950
-0.450%
USD/JPY
157.580
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GBP/USD
1.33360
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GBP/JPY
210.153
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Real-time News
March 4 (Futures News) – According to foreign media reports, Malaysian crude palm oil futures on the Bursa Malaysia Derivatives Exchange (BMD) are likely to continue rising at the open on Wednesday morning, following the upward trend in external markets. The escalating conflict between the US and Israel over Iran has led to a third consecutive day of significant gains in international crude oil futures, coupled with a firm rise in Chicago soybean oil futures, which is expected to support the early performance of Malaysian crude palm oil futures. Declining Malaysian palm oil production and a weaker ringgit are also providing support for prices. A weaker ringgit typically reduces the cost of purchasing palm oil for buyers holding foreign currency.U.S. Navy: The United States has significantly weakened Iran’s air defense system and destroyed hundreds of Iranian ballistic missiles, launchers and drones.On March 4th, according to AXIOS, Israeli Prime Minister Benjamin Netanyahu called US President Donald Trump on Monday (February 23rd), revealing intelligence that Irans Supreme Leader and his senior advisors would meet at a location in Tehran on Saturday morning (February 28th). According to three sources, Netanyahu told Trump that a devastating airstrike could kill everyone. This February 23rd call was a pivotal moment in igniting the Iran war and answers the question of why the Trump administration acted at this time: neither Trump nor Netanyahu wanted to miss this highly tempting opportunity to strike Khamenei and his inner circle. Before receiving this new intelligence, Trump was already inclined to take action against Iran, but he hadnt decided on a specific timeframe—until Netanyahu called. At 3:38 PM Eastern Time on Friday (February 27th), Trump gave the final order. Eleven hours later, missiles landed in Tehran, killing Khamenei and igniting the war.March 4th - According to Irans Fars News Agency on March 3rd, Mohammad Akbarzadeh, deputy commander of the Iranian Islamic Revolutionary Guard Corps Navy, stated that the Strait of Hormuz is now completely under the control of the Iranian Navy, and more than ten oil tankers have been hit by artillery fire in the strait. Akbarzadeh said the Revolutionary Guard Navy had repeatedly warned that the Strait of Hormuz was under war and that any vessel could be hit by artillery fire or drones. However, more than ten oil tankers ignored the warnings and have been hit and burned. Akbarzadeh emphasized that after Iran declared the Strait of Hormuz closed to navigation, oil tankers, merchant ships, and fishing vessels are no longer able to pass through the strait.March 4 (Futures News) – According to foreign media reports, Chicago Board of Trade (CBOT) soybean futures closed mixed on Tuesday, with the benchmark contract rising 0.6%, mainly supported by stronger international crude oil futures. Soybean prices fluctuated wildly throughout the day, but the benchmark contract ultimately closed higher, primarily due to the continued surge in crude oil prices driven by ongoing conflict in the Middle East. Market participants stated that the uncertainty stemming from the Middle East conflict dampened traders enthusiasm, making them reluctant to make large trades. This resulted in frequent market entries and exits. Currently, no one is willing to go long or short significantly. However, market concerns about Chinese demand for US soybeans, coupled with intense competition from Brazilian soybeans, limited the upside potential for soybean prices.
