KUALA LUMPUR (Oct 5): Malaysian palm oil futures declined in early trade on Wednesday, on track for its second straight losing session, tracking weaker performing soyoil and on forecasts of falling exports. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange fell 0.5 percent to 2,587 ringgit ($625) a tonne at noon. Another trader added that soy was down on expectations of a bumper crop, and with traders forecasting poorer palm oil exports in the coming months, stockpiles would rise as a result. September data from industry regulator the Malaysian Palm Oil Board is scheduled for release next Monday. Palm oil still targets its Sept. 14 low of 2,547 ringgit per tonne, according to technical analysis by Reuters market analyst for commodities and energy technicals Wang Tao.

Source: The Edge Markets October 05, 2016 05:48 UTC