Palm oil slips as soybean oil and crude ease
Palm oil ended lower, attributed to weakness in Chicago soybean oil and lower crude oil. David Ng (Iceberg X) cites support at 4,800 ringgit/ton and resistance at 4,950 ringgit/ton. Bursa Malaysia Derivatives June delivery contract mentioned but not quantified in the provided text.
Palm oil prices finished lower, pressured by weakness in the Chicago soybean oil market and softer crude oil prices, according to David Ng, a trader at Kuala Lumpur-based Iceberg X. Ng said support is at 4,800 ringgit a ton and resistance at 4,950 ringgit a ton. The Bursa Malaysia Derivatives contract for June delive…