Palm Declines, Tracks Weak Rival Oils

KUALA LUMPUR: Malaysian palm oil futures fell on Thursday evening, tracking weaker soya oil on the Chicago Board of Trade and other related edible oils on China’s Dalian Commodity Exchange.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0.6% at 2,626 ringgit ($607.03) a tonne by the close.

Most commodities, including US soya oil, were dragged down by a negative US Dow Jones index, said a Kuala Lumpur-based futures trader. The Dow recorded its biggest one-day fall since September on reports that US President Trump tried to interfere with a federal investigation.