Palm Oil Ends Lower, Tracking Weakness in Rival Oils — Market Talk
Bullish strength: 20/100
Bearish strength: 80/100
- The January Malaysian palm oil futures contract fell 69 ringgit to 4,616 ringgit per tonne.
- Weakness in soybean oil and crude oil reduced palm oil's appeal as a biodiesel feedstock.
- Markets are concerned about a further increase in Malaysian palm oil inventories.
- The prospect of lower Indonesian palm oil export taxes added pressure to Malaysian prices.
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