Malaysia palm oil future prices extended the losses yesterday

Malaysia palm oil future prices extended the losses yesterday, fell more than 1 per cent, moreover technical correction prices took cues from crude oil prices and weak CBOT soy oil prices. Palm oil’s next price determining factors are Malaysia’s 1-10 export data and tomorrow ‘s MPOB supply demand for September month. Overall expecting, the upside trend for export demand will take a pause in the first 10 days of the month after a huge recovery in September. SPPOMA 1-5th October pegged Yield increased by 4.52%, oil ratio higher by 0.41% and production up by 6.68%. production may remain in higher on seasonal trend. However, some weather disturbance expected in the coming week which may hamper plantation operation.