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Palm hits four-month low on expectations of record October stocks
KUALA LUMPUR: Malaysian palm oil futures extended losses for a third straight session on Wednesday, falling to a four-month low, as expectations of record-high stockpiles and weaker Dalian palm olein pressured the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 55 ringgit, or 1.21%, to 4,496 ringgit ($1,104.67) a metric ton, the lowest closing price since July 3. The market continued to trade with a bearish tone after polls on Tuesday estimated palm oil end-stocks likely reached a record high last month, a Kuala Lumpur-based trader s...
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