Palm oil prices fall in Asian trade, tracking lower soybean oil prices on the Chicago Board of Trade, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The expectation of rising output in coming weeks is also seen as weighing on sentiment, he adds. Ng expects prices to face resistance at 4,680 ringgit a ton and find support at 4,500 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 25 ringgit lower at 4,563 ringgit a ton. (yingxian.wong@wsj.com)
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Palm Oil Falls on Weaker Soybean Oil — Market Talk
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Palm oil prices fall in Asian trade, tracking lower soybean oil prices on the Chicago Board of Trade, says David Ng, a trader at Kuala Lumpur-based Iceberg X. The expectation of rising output in coming weeks is also seen as weighing on sentiment, he adds. Ng expects prices to face resistance at 4,6…