date:Aug 12, 2014
fell short of expectations, TA Research said in a note.
Technicals showed that Malaysian palm oil is expected to test a support at 2,220 ringgit per tonne, a break below which will lead to a further loss to 2,202 ringgit, said Reuters market analyst Wang Tao. Market players said the ongoing bearish sentiment in soybean oil as well as an expected recovery in palm oil production have piled pressure on prices that have tumbled more than 18 percent so far this year. We have three bumper crops in a