CPO Futures End Mostly Lower Tracking Weaker Soybean Prices
KUALA LUMPUR, The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended mostly lower on Wednesday, tracking weaker soybean prices, said a dealer. Palm oil trader David Ng said the stronger ringgit against the United States (US) dollar also weighed on market sentiment. ‘We see support at RM3,800 a tonne and resistance at RM4,000 a tonne,’ he told Bernama. Meanwhile, Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said CPO futures were seen trading sideways today, driven by negative cues from the US and South American soybean oil markets. ‘Malaysia palm oil export during Aug 1-25 period estimated