Oil May Spur More Selling in Palm Futures

The following factors are likely to influence Malaysian palm oil futures today. Malaysia’s crude palm oil futures tumbled as much as 4.1 per cent on Friday when traders triggered selling orders after the market breached a key support level.

Soybean futures fell 3.6 per cent at the Chicago Board of Trade on Friday, touching their lowest level in more than six months in anticipation of what is expected to be the largest U.S. soy crop ever.

Oil fell more than 1 per cent on Friday, settling below US$70 a barrel after U.S. employment figures raised doubts about the strength of the economic recovery. Source : Business Times

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