Palm oil extends falls on weaker soyoil and exports

Business Recorder reported that Malaysian palm oil futures declined on Thursday, extending their losing run to five sessions in a row. The fall tracked weaker Chicago soyoil prices, while soft September exports and rising production also weighed on the market. The story was datelined Jakarta.

The benchmark contract maturing in December, traded on the Bursa Malaysia Derivatives Exchange, dropped 19 ringgit, or 0.41 per cent, to 4,591 ringgit ($1,123.59) per metric ton during morning trading. The report gave the price as of morning trade, so it captures only the early part of the session. This is a global commodity benchmark rather than a company-specific development, so no local listed firm is named in the story.