date:Aug 05, 2014
growers Indonesia and Malaysia is expected to gain momentum in the final months of this year and keep a lid on prices, although a potential El Nino and tree stress could curb the rise, planters and analysts said on Monday.
Technicals were bearish. Malaysian palm oil is expected to break a support at 2,250 ringgit per tonne and fall more towards 2,220 ringgit, driven by wave 5, according to Reuters market analyst Wang Tao. Prospects of bigger supplies of soybeans, thanks to near-record product