date:Jul 15, 2014
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Technicals, however, were bearish. Malaysian palm is expected to fall more to 2,298 ringgit per tonne, as it has broken below support at 2,328 ringgit, said Reuters market analyst Wang Tao. The Malaysian ringgit advanced 0.19 percent to 3.1800 per dollar late Monday, making the ringgit-priced feedstock more expensive for overseas buyers and refiners.
The ringgit firmed slightly, that also put additional pressure on the market, the first trader added. The US soyoil contract fell 0.6 perce