date:Aug 26, 2014
the intraday low of 1,954 ringgit. Total traded volume stood at 25,250 lots of 25 tonnes, below the average 35,000 lots. Technicals showed palm oil may fall further into a range of 1,950-1,968 ringgit per tonne, driven by a powerful wave three, Reuters market analyst Wang Tao said.
Fears that global demand will be overwhelmed by a bumper supply of edible oils this year also pressured the market. The main bearish factors are the large crop prospects for soybeans in the US, rapeseed in Europe an