KUALA LUMPUR (June 3): Malaysian palm oil futures fell by more than 2% to a one-week low on Monday evening for a third straight day of falls, weighed down by broad weakness in global equities and commodities. Meanwhile, oil prices fell more than 1% on Monday, extending declines from Friday. The Chicago July soybean oil contract fell 0.7% on Friday, after four sessions of gains and was last down 0.9% on Monday. In related oils, the September soyoil contract on the Dalian Commodity Exchange slipped 2% and the Dalian September palm oil contract fell 2.2%. Palm oil prices are affected by movements in soyoil, with which it competes for global market share.

Source: The Edge Markets June 03, 2019 12:11 UTC