Palm oil fell, affected by the decline in soybean oil prices.

In a report, Malaysia Investment Bank stated that palm oil prices declined during the Asian trading session, weighed down by the overnight drop in soybean oil on the Chicago futures exchange. However, the rise in soft palm oil prices on the Dalian Commodity Exchange may partially cushion the downward impact. The bank added that technical analysis predicts that the bullish momentum for crude palm oil futures remains intact, although profit-taking ahead of the release of data from the Malaysian Palm Oil Board may limit further gains. Malaysia Investment Bank expects palm oil prices to face resistance at 4,721 ringgit per ton and find support at 4,639 ringgit per ton. Contracts for October delivery on the Malaysian Derivatives Exchange fell by 7 ringgit, settling at 4,689 ringgit per ton.