Palm Oil Extends Losses on Weak Soy Oil and Malaysian Stock Concerns
Palm oil dropped in Asian trade after softer Chicago soybean oil, with AmInvestment Bank pointing to high Malaysian stocks, according to Market Talk.
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what happened
Palm oil prices fell in Asian trading, following a drop in soybean oil on the Chicago Board of Trade overnight, according to Market Talk.
AmInvestment Bank cited high Malaysian palm oil stocks and forecasts for strong output in October as pressure on sentiment. In its view, the crude palm oil market is likely to stay under pressure in the short term.
The bank sees a resistance level at 4,800 ringgit per tonne and a support level at 4,650 ringgit per tonne. The January contract on Bursa Malaysia Derivatives was down 53 ringgit at 4,632 ringgit per tonne.
why it matters
Palm oil prices often track soybean oil, so weakness in Chicago passes quickly into Malaysian futures. Stock levels and the pace of output are the main factors traders are watching now.
market impact
Palm oil futures: pressure from high Malaysian stocks and softer soy oil
- Palm oil futures pressure down — high Malaysian stocks and expected strong output weigh on prices
tags
instruments
sources
- Palm Oil Falls, Tracking Softer Soybean Oil Prices — Market Talk, 29 October 2026 at 02:37 UTC
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