Palm Oil Closes Lower, Tracking Crude Weakness — Market Talk
Bullish strength: 20/100
Bearish strength: 80/100
- January palm oil futures declined 31 ringgit to 4,650 ringgit per metric ton.
- Weaker crude prices reduced palm oil's appeal as a biodiesel feedstock.
- Expectations of rising October stockpiles weighed on sentiment.
- Uncertainty surrounding a potential Malaysian export tax waiver added pressure.
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