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Palm Oil Ends Lower, Weighed by Concerns of Elevated Inventories — Market Talk

Grade Bbearish AI signal$CPO
Malaysian palm oil futures ended lower as concerns over elevated inventories and expectations of strong October production weighed on prices. The January Bursa Malaysia Derivatives contract fell 14 ringgit to 4,687 ringgit a ton, with trader David Ng identifying support at 4,650 ringgit and resistance at 4,800 ringgit. Palm oil prices could remain under pressure if inventories stay elevated and export demand fails to strengthen.

Bullish strength: 25/100

  • Trader identifies support around 4,650 ringgit a ton.
  • Firmer crude oil prices provided a potentially supportive external factor.

Bearish strength: 75/100

  • Elevated Malaysian inventories weighed on prices.
  • Expectations of strong October production pressured market sentiment.
  • January palm oil futures fell 14 ringgit to 4,687 ringgit a ton.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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