Palm oil rises, but ample supply may cap gains
Palm oil climbed in Asian trading after stronger soybean oil on the CBOT; AmInvestment Bank sees ample supply and profit-taking capping gains, per Market Talk.
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what happened
Palm oil rose in Asian trading, following stronger soybean oil on the Chicago Board of Trade overnight. According to Market Talk, citing a note from AmInvestment Bank, analysts see CPO futures finding support at 4,782 ringgit a ton and facing resistance at 4,835 ringgit.
The Bursa Malaysia Derivatives contract for January delivery was up 12 ringgit at 4,829 ringgit a ton. The bank says ample palm oil supplies and near-term profit-taking could limit further gains.
why it matters
Palm oil belongs to the vegetable oil complex, and its price typically reacts to moves in soybean oil and energy markets. For traders, the note's support and resistance levels, along with the balance between ample supplies and profit-taking, are the key points to watch.
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sources
- Palm Oil Rises; Ample Supply Could Cap Gains — Market Talk, 21 October 2026 at 02:45 UTC
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