The March futures contract of crude palm oil on the Bursa Malaysia Derivatives hit a near two-week low of 2,528 ringgits (40,497.92 rupees) per tn due to a strong ringgit against the dollar. A firm ringgit makes the commodity more expensive for buyers holding other currencies. The most-active March contract of crude palm oil on the Malaysian bourse settled at 2,545 ringgits per tn, down 0.9% from the previous close.
Indore soybean down as arrivals up ahead of weekend
Prices of soybean fell in Indore, the benchmark wholesale market for the commodity, due to an increase in arrivals ahead of the weekend. Arrivals rose as farmers brought more of their produce to take advantage of current higher prices. The most-active February contract of soybean on NCDEX fell 0.8%.