Palmoil HQ Crude palm oil down for 3rd day on selling pressure

Crude palm oil futures on Malaysia’s derivatives exchange fell for the third day Wednesday, tumbling as much as 1.3% on selling pressure amid weakness across commodity markets, including soyoil and crude, said trade participants.

The benchmark January contract on the Bursa Malaysia Derivatives ended down MYR18 at MYR2,152 a metric ton, after moving in MYR2,140-MYR2,186/ton range.

Palm oil prices started the day higher but slipped into negative territory at midmorning as a rebound in the dollar halted a rally in commodity markets, including palm oil, trade participants said.

Prices eased further in afternoon trade as investors continued to liquidate positions to take profit.