CPO Falls Amid Weak Commodities; Key MPOB Data Awaited

Crude palm oil futures on Malaysia’s derivatives exchange extended declines Wednesday as investors made bearish bets ahead of key production and stock data due at the end of the week.

Prices also fell due to broad-based weakness in commodity markets, market participants said. Benchmark August CPO on the Bursa Malaysia Derivatives ended 1.1% lower at MYR3,316 a metric ton, after tumbling to MYR3,313/ton, the lowest since May 18.

Asian Crude Palm Oil Extends Losses Amid Fears Of Japan Quake

Crude palm oil futures on Malaysia’s derivatives exchange extended losses Friday mostly tracking crude and the Dalian soy complex, after a strong earthquake hit Japan, weighing on commodity demand. Concerns about inflationary pressures in China, with the CPI estimated to have risen 4.9% in February compared with a year earlier, also led to a bearish market sentiment, said market participants.

Crude Palm Oil Ends Up; Rising Supply Limits Upside

Crude palm oil futures on Malaysia’s derivatives exchange rose Monday in a mild correction of last week’s losses, with support in late trade from a slight rebound in Chicago soyoil.

The benchmark June contract on the Bursa Malaysia Derivatives ended MYR21 higher at MYR3,282 a metric ton.