How to trade Crude Palm Oil Futures ( FCPO ) 29 JULY 2016

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Malaysian palm oil futures rose on Friday evening as traders forecast better exports for July, but still charted its first weekly decline in three weeks given weakness in competing soybean oil markets.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.7% to RM2,316 (US$569) per tonne at the end of the trading day.

Traded volumes stood at 35,343 lots of 25 tonnes each by Friday evening, lower than the 2015 average of 44,600.

However, palm lost 0.2% this week. It is also down 1.6% for the month, weighed down by poorer performing related oils on China's Dalian Commodity Exchange during July.

The market is likely to be expecting higher exports, thus supporting palm prices, said a trader from Kuala Lumpur, referring to export data from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance.

Exports of palm oil products from Malaysia, the world's second largest producer after Indonesia, rose about 15% during the July 1-25 period from a month earlier boosted by stronger demand from China and Europe, according to the cargo surveyors.  

Data for the full month of July will be released on Monday.

Palm oil may break a resistance at RM2,343 per tonne and rise more into a range of RM2,364-2,374, according to Wang Tao, a Reuters market analyst for commodities and energy technicals.

In competing vegetable oils, the Chicago soybean oil contract for December dropped 0.3%, while Dalian's January soybean oil contract declined 0.8%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 29 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 28 JULY 2016

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Malaysian palm oil futures reversed gains made in the previous session, pushed lower by expectations of rising output that would contribute towards greater stockpiles at end-July.    

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange fell 0.8% to RM2,300 (US$568) per tonne at the close of trade, the first decline after two sessions of gains.

Traded volumes stood at 35,537 lots of 25 tonnes each in the evening, versus the 2015 average of 44,600.

"The market still lacks direction, but people think production may be picking up," said a Kuala Lumpur-based trader.

"Output in East Malaysia is up for the month of July."

Production of the tropical oil in Malaysia, the world's second largest producer, is forecast to rise in line with seasonal trends in coming months.

Output rose 12.3% to 1.53 million tonnes at end-June from 1.36 million tonnes the previous month, while end-stocks grew 7.8% to 1.78 million tonnes.

Yields that were earlier affected by dry weather brought by an El Nino weather event are also seen recovering towards the year end, as recent rains and a potential La Nina help production.

El Nino brings scorching heat across Southeast Asia, impacting palm output. A La Nina event causes heavy rainfalls in the region, nourishing fruit yields and improving production.

La Nina is likely to develop during August through October this year, a US government weather forecaster said.

Palm oil may break a support at RM2,302 per tonne and drop more towards the next support at RM2,258, according to Wang Tao, a Reuters market analyst for commodities and energy technicals.

In competing vegetable oils, the Chicago soybean oil contract for December was down 0.4%, while Dalian's January soybean oil contract fell 0.5%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 28 July 2016

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The FBM KLCI declined 5.06 points or 0.3% on news Fitch downgraded Malaysia's ringgit-denominated debt rating. The KLCI had also dropped on Asian share market losses.

At 5pm, the KLCI closed at 1,658.50 points after Fitch said it downgraded Malaysia's long-term ringgit bonds to A- from A. Malaysia's downgrade prompted Fitch to downgrade the debt of government-linked companies including Petroliam Nasional Bhd (Petronas).

Across Bursa Malaysia, decliners led gainers by 467 to 300. Volume was 2.22 billion shares valued at RM1.85 billion.

Top decliners included British American Tobacco (M) Bhd, Chin Teck Plantations Bhd and Genting Bhd. Top gainers included Panasonic Manufacturing Malaysia Bhd, Dutch Lady Milk Industries Bhd and Ajinomoto (M) Bhd.

PDZ Holdings Bhd was the most-actively traded counter with some 270 million shares transacted.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 27 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 27 JULY 2016.bmp

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Malaysian palm oil futures notched up a second day of gains, tracking rival soyoil, while a weaker ringgit also helped to prop up prices.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 0.4% to close at RM2,318 (US$569) per tonne on Wednesday.

Traded volumes stood at 44,591 lots of 25 tonnes each at the end of trade, close to the 2015 average of 44,600.

Palm is down 1.9% so far this month, touching a one week low of RM2,253 on Tuesday, weighed down by weakness in Chinese vegetable oils.

"Palm is tracking the external market, both Chicago Board of Trade soy and Dalian," said a trader from Kuala Lumpur, referring to palm and soyoil on China's Dalian Commodity Exchange.  

"Any interest from the Chinese side will translate to an upcoming rise in demand ... Both soy and our market will be pulled up by that."

The palm oil market has also been influenced by the performance of Chicago soybean futures, which rose on bargain-hunting after hitting a three-month low on Tuesday.

Malaysian palm oil exports rose about 15% during the July 1-25 period versus a month earlier, led by gains in demand from China and Europe, according to cargo surveyor data released on Monday.  

A weaker ringgit also lent support to palm's performance on Wednesday, said traders, as it makes the vegetable oil cheaper for foreign currency holders. The ringgit, palm oil's traded currency, weakened 0.4% against the dollar to reach 4.0735 on Wednesday evening.  

Palm oil is expected to rise to RM2,374 per tonne as it has broken a resistance at RM2,302, according to technical analysis by Reuters market analyst Wang Tao.

In related vegetable oils, the Chicago soybean oil contract for December rose 0.1%, while Dalian's January soybean oil contract gained 0.3%. The January palm olein contract was up by 1.5%.

How to trade Crude Palm Oil Futures ( FCPO ) 26 JULY 2016

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Malaysian palm oil futures reversed losses in late trade on Tuesday, in response to a stronger performance by US soybean oil, plus Malaysia's commitment to raise the minimum bio content in biodiesel, which will boost palm oil consumption.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange rose 1.7% to RM2,309 (US$569) per tonne at the close of trade, its strongest daily gain since July 20.

Traded volumes stood at 48,297 lots of 25 tonnes each, above the 2015 average of 44,600.

Improvement in US soy was a likely reason, one futures trader from Kuala Lumpur said, while another trader said Malaysia's biodiesel plans could be another supportive factor.

Malaysia, the world's second largest palm producer after Indonesia, said on Tuesday it would still raise the minimum bio-content to 10% for the transport sector this year, but not in July as initially expected.

"B10 will still be implemented this year, and the market is retracing on an oversold condition," said the trader.

Malaysia had earlier said it would introduce its so-called B10 biodiesel mandate by July, a month later than earlier announced, and see its full implementation by August.

This new mandate will increase the bio content in biodiesel and use more palm oil for blending purposes, increasing demand and supporting local prices.

Palm is down 3.5% so far this month and looks set for its second monthly drop in a row as weaker performing vegetable oils weigh on market sentiment.

Last Thursday, October palm oil had climbed to a two-week top before turning back south under pressure from the weakness in Chinese palm and soy markets.

The January palm olein contract on the Dalian Commodity exchange fell 0.4%, while the January soybean oil contract declined 0.8%.

Palm oil shipments from Malaysia, the world's second-largest producer of the vegetable oil, rose about 15% during July 1-25 compared with a month earlier, according to cargo surveyor data released on Monday.

In other related vegetable oils, the Chicago soybean oil contract for December rose 1.1%.

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How to trade Crude Palm Oil Futures ( FCPO ) 25 JULY 2016

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Malaysian palm oil futures extended losses on Monday, coming off last week's two-week high, as weakness in overseas soybean oil prices lured buyers away from the tropical oil.

Palm's rival soy fell sharply on Friday on the Chicago Board of Trade on expectations of a bumper US crop this fall. Dalian prices slipped a percent on the day and looked set to extend their losses this week.

Benchmark palm oil futures for October delivery on the Bursa Malaysia Derivatives Exchange fell 2.2% to RM2,268 (US$560) per tonne at the close of trade, an intraday and near one-week low.

Traded volumes stood at 33,690 lots of 25 tonnes each on Monday evening, compared with the 2015 average of 44,600.

Palm oil plunged to a 10-month low earlier this month before recovering to a two-week high of RM2,368 last Thursday. It has lost 1.4% so far this month.

"The decline is due to soybean oil prices, which came off sharply on Friday," said a futures trader from Kuala Lumpur, adding that export demand did little to lift prices despite improving data from cargo surveyors.

"The pipeline is dry, so they are buying to have some oil in hand. It's not serious buying, but the figures are good in comparison to June," he said.

Reports from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance showed exports of Malaysian palm oil products from July 1-25 rose about 15% from the same time period last month, led by improved demand from Europe and China.  

The Chicago soybean oil contract for December declined 1%, while the January soybean oil contract on the Dalian Commodity Exchange declined 1.9%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 25 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 22 JULY 2016

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Malaysian palm oil futures fell on Friday, after climbing to a two-week high in the prior session, although expectations of strong demand for the vegetable oil kept a floor under prices.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.5% to 2,317 ringgit (US$571.6) a tonne. On Thursday, it climbed to 2,368
ringgit, highest since July 5. Volumes stood at 32,734 by close.

"We are seeing some chart-related selling at current levels, as bargain hunting and short covering start to fade," said one Kuala Lumpur-based trader, adding though that export sales are expected to remain strong.

Exports of Malaysian palm oil products for July 1-20 rose 14% from a month earlier, data from cargo surveyor Intertek Testing Services showed, while Societe General de Surveillance reported export growth of 15.3%.  

The market is awaiting the next update on export demand from cargo surveyors due on Monday.  

"Bullish fundamentals and a weaker ringgit will cushion any attempt to sell," the Kuala Lumpur trader said.

This week, the ringgit has slipped almost 3%, its biggest such loss in 10 months, making palm oil cheaper for holders of other currencies.

Palm oil futures have risen 1.7% for the week — their second straight week of gains — with a drop in soybean prices failing to dent the bullish sentiment in palm oil.

"Palm is still the cheapest edible oil in the market," the trader said, adding that palm olein is being quoted US$80 a tonne below soybean oil in Argentina for August shipment.

While Chicago soybeans have lost 6% this week, soyoil is set to end the week down about half a percent.

Palm oil may drop to a support at 2,302 ringgit, as it failed to break a resistance at 2,374 ringgit, said a Reuters analyst for commodities and energy technicals.

The most actively-traded contract for palm olein on the Dalian Commodity Exchange gave up 3%, while Dalian soybean oil dropped 2%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 22 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 21 JULY 2016

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Malaysian palm oil futures extended gains on Thursday, climbing to the highest in more than two weeks with prices underpinned by strong demand of the vegetable oil.

A weaker Malaysian ringgit, which makes palm oil cheaper for importers holding other currencies, also fuelled gains in prices of the tropical oil, traders said.

The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange closed up 0.3% at 2,353 ringgit (US$582.70) a tonne.

Earlier in the session, it climbed to 2,368 ringgit, highest since July 5. Traded volumes stood at 38,766 lots.

"With better demand seen in July and August, prices will continue to rise," said one Kuala Lumpur-based trader.

"We anticipate prices to surge, with 2,500 ringgit as the near-term target," the trader added.

Indicating firmer demand, exports of Malaysian palm oil products for July 1-20 rose 14% from a month earlier, data from cargo surveyor Intertek Testing Services showed, while Societe General de Surveillance reported export growth at 15.3%.  

Palm oil prices have risen this week after plumbing a 10-month low last week. The weak Malaysian ringgit, in which palm oil is priced and which helped to lift the market, lost more ground on Thursday and hit its lowest in three weeks.

Still, there could be some headwinds for palm oil from the weakness in Chicago soybean futures, which have lost more than 10% over the last three weeks.

Palm oil and soybean oil compete for a share of the global vegetable oil market.

On the technical front, palm oil may end its current bounce around a resistance at 2,374 ringgit, according to Wang Tao is a Reuters analyst.

The most actively-traded contract for palm olein on the Dalian Commodity Exchange finished almost unchanged, while Dalian soybean oil added 0.6%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 21 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 20 JULY 2016

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Malaysian palm oil futures extended gains, touching a two-week high on Wednesday on improving demand, amid expectations of further weakness in the ringgit.

Benchmark palm oil futures on the Bursa Malaysia Derivatives Exchange finished 1.9% higher at 2,347 ringgit (US$583), after touching a two-week high of 2,354 ringgits earlier in the session.

Palm has seen consistent gains in the past week, after hitting a 10-month low early last week.

"We are seeing good buying interest both in cash and futures, the expectation of further weakness in the ringgit and return of major buyers are adding cadence," said a Kuala Lumpur-based trader.

"Prices are expected to remain bullish and a minor rally will resume until the end of July."

Exports of Malaysian palm oil products for July 1-20 rose 14% from a month earlier, cargo surveyor Intertek Testing Services said on Wednesday, while Societe General de Surveillance reported 15.3% export growth.

Meanwhile, the Malaysian ringgit, in which the benchmark is priced, eased for a third day, touching its weakest in nearly two weeks.

On a technical basis, palm may rise towards the next resistance at 2,374 ringgit, as suggested by a Fibonacci retracement analysis, Reuters technical analyst Wang Tao said.

The most actively-traded September contract for palm olein on the Dalian Commodity Exchange rose 0.7%, while Dalian soybean oil, a substitute for palm oil, gained 1.6%.

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How to trade Crude Palm Oil Futures ( FCPO ) 19 JULY 2016

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Malaysian palm oil futures closed higher on Tuesday, recovering from earlier declines as the ringgit's weakness helped prices.

Benchmark palm oil futures on the Bursa Malaysia Derivatives Exchange rose 1.1% to RM2,306 (US$576.50), the highest close since July 5, after falling as much as 1% earlier in the session.

Prices climbed to a one-week high of 2,299 last Friday, recovering from a 10-month low of RM2,186 on Tuesday.

"Further weakening in the ringgit attributed to today's short covering," a trader said.

The Malaysian ringgit, in which the benchmark is priced, fell 0.6% as falling crude prices underscored concerns about the country's oil and gas revenues.

Prices of palm oil have been under pressure as last week's data showed weak demand and an increase in production.    

Palm oil output in Malaysia, the world's second-largest producer, rose about 12% in June, while inventories climbed for the first time in seven months, data from the Malaysian Palm Oil Board (MPOB) showed last week.

But in a sign of waning demand, exports dropped more than expected, hurting prices.

Traders will be closely monitoring Malaysian export data for July 1–20 from Intertek Testing Services on Wednesday.

Indonesian exports in June fell 6% while output rose for a second month, a Reuters survey showed.

While dryness across Southeast Asia related to El Nino is expected to curb global palm output this year, the possible emergence of La Nina bringing rains to the region could help improve fruit yields.

On a technical basis, prices may drop into a range of RM2,224–2,237 per tonne, as they could have completed a bounce from the July 12 low of RM2,186.

The most actively traded September contract for palm olein on the Dalian Commodity Exchange fell 0.8% while Dalian soybean oil, a substitute for palm oil, lost 1.1%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 19 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 18 JULY 2016

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How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 18 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 15 JULY 2016

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Malaysian palm oil futures rose to their highest in more than a week on Friday, tracking gains in overseas commodity markets, although prices failed to move far above an almost 10-month low hit this week as exports fell and production picked up.

Benchmark palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1.3% higher at RM2,279 (US$577.69) a tonne, after rising to RM2,299 — the loftiest since July 5.

Palm oil ended 1.7% higher for the week, the first gain in six.

Even then, prices are not far from the RM2,186 hit earlier this week — the lowest level since September 2015.

The weakness in palm oil prices in recent weeks has been largely driven by waning demand for exports during and after Ramadan. Buyers typically stock up the vegetable oil ahead of the Muslim holy month, which this year began on June 6.

In June, palm oil exports by Malaysia, the world's second-biggest producer after Indonesia, fell to a four-month low while inventories at home rose for the first time in seven months, data from an industry regulator shows.

Malaysia's shipments over July 1–15 fell almost 1% to 561,471 tonnes from a month earlier, cargo surveyor Intertek Testing Services said on Friday.

The country will lower its crude palm oil export tax to 5% in August from 6% in July, a move that is likely to encourage outbound shipments, but traders cautioned that a pick-up in output could pressure prices.

"Unless the overseas market turns negative, prices may head for further technical correction but July production growth may cap upside," a Kuala Lumpur-based trader said.

Dryness across Southeast Asia related to an El Nino weather event that recently ended is expected to curb global palm output this year but an emergence of La Nina and resultant rains in the region could help improve fresh fruit yields.

For now, however, palm is tracking a sharp 3.2% gain in the most actively traded September contract for palm olein on the Dalian Commodity Exchange. China is the world's No.2 palm oil consumer after India.

In other oilseed markets, Dalian soybean oil, a substitute for palm oil, edged 0.2% up, while US soyoil futures gained 0.5%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 15 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 14 JULY 2016

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How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 14 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 13 JULY 2016

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Malaysian palm oil rose on Wednesday, snapping four straight sessions of losses, as futures tracked higher Chinese soybean oil and palm olein prices, while gains in US soyoil also helped improve sentiment.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange closed 1.6% higher at RM2,222 (US$559.70), a day after lower export data triggered panic selling.

Malaysian Palm Oil Board figures on Tuesday showed that the country's palm exports in June fell nearly 12% compared with May. A Reuters poll had pegged June exports at 1.2 million tonnes, down 6.4% from May after Ramadan.

Traded volumes stood at 44,321 lots of 25 tonnes each on Wednesday evening, lower than the 2015 average of 44,600.

"Overseas markets supported the technical correction today. Overall, the fundamentals are still not great," a Kuala Lumpur-based trader said.

The September contract for soybean oil, a substitute for palm oil, on the Dalian Commodity Exchange rose 1.5%, while the most actively traded September contract for palm olein gained 1.6%.

China is the world's second-largest palm oil consumer after India.

US soyoil futures were up 0.97%.

(US$1 = RM3.9700)

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 13 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 12 JULY 2016

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Malaysian palm oil futures plunged to a near 10-month low on Tuesday after data showed exports plummeted more than expected and on a appreciating ringgit.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were down 2.3% at RM2,188 (US$552.53) a tonne, after falling to RM2,186, the lowest level since Sept. 22, 2015.

Traded volumes stood at 42,817 lots of 25 tonnes each on Tuesday evening, lower than the 2015 average of 44,600.

Malaysian Palm Oil Board (MPOB) figures showed the country's palm exports dropped nearly 12% in June from May. AReuters poll had pegged June exports at 1.2 million tonnes, down 6.4% from May after Ramadan.

"There is fundamentally nothing bullish about the market," a trader based in Kuala Lumpur said, adding that palm oil prices could take cues from the US Department of Agriculture (USDA) data due later on Tuesday. The USDA will issue its latest World Agricultural Supply and Demand Estimates report.

The September contract for soybean oil, a substitute for palm oil, on the Dalian Commodity Exchange slipped 0.17%, while the most actively traded September contract for palm olein gained 0.56%.

China is the world's second-largest palm oil consumer behind India.

US soyoil futures were down 0.43%.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 12 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 11 JULY 2016

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Malaysian palm oil futures eased on Monday, touching their lowest in nine months during the session as sentiment remained subdued ahead of data expected to show a drop in exports last month.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange closed 0.04% lower at RM2,239 (US$560.73) a tonne, having dropped by about 1% earlier in the day, the lowest level since Oct. 9, 2015.

Traders said the Malaysian Palm Oil Board's (MPOB) data for June, due on Tuesday, is expected to show higher stocks and lower exports.

"The industry expects the end stock to be in the range of 1.75 million to 1.85 million tonnes and if that's the case the market will consolidate above RM2,200," said Lingam Supramaniam, director with Pelindung Bestari at Port Klang Malaysia.

The September contract for soybean oil, a substitute for palm oil, on the Dalian Commodity Exchange rose 1.2%, while the most actively traded September contract for palm olein surged by 1.7%, tracking gains in US soyoil.

China is the world's second-largest palm oil consumer behind India.

US soyoil futures were 0.86% higher.

Higher stockpiles in Malaysia should pressure palm oil prices lower, forecast a Reuters poll of eight traders, analysts and planters.

The survey showed inventories are expected to have risen by 7.4% to 1.77 million tonnes in June, with exports down 6.4% from May.

Output is seen rising for a fourth consecutive month in line with the seasonal trend to reach 1.51 million tonnes.

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How to trade CBOT Soyoil 08 July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 8 JULY 2016

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MUMBAI (July 8): Malaysian palm oil futures fell 5% on Friday to their lowest level in nine months, following losses in rival soyoil and on sluggish export demand.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange closed 5% down at RM2,238 (US$555.3)per tonne, after falling as much as 5.6% earlier in the day to RM2,223, the lowest level since Oct. 9, 2015.

They have lost 5.1% this week, posting their fifth straight weekly fall.

Traded volumes stood at 54,567 lots of 25 tonnes each on Friday evening, above the 2015 average of 44,600.

"Palm oil is catching up with soyoil. For the last two days US soyoil has been correcting. Palm has to correct in the same proportion to remain competitive," said a Kuala Lumpur-based trader.

The Malaysian palm oil market was closed on Wednesday and Thursday for Eid celebrations.

"The sharp fall in the Chinese market has shattered confidence. Traders are closing their long positions," said a dealer.

The September contract for soybean oil, a substitute for palm oil, on the Dalian Commodity Exchange fell 0.47%, while the most actively traded September contract for palm olein declined 1.64%.

China is the world's second largest palm oil consuming country after India.

US soyoil futures fell 3.7% in the previous two sessions.

Higher stockpiles in Malaysia could also dent palm oil prices, forecast a Reuters poll of eight traders, analysts and planters. The survey showed inventories likely rose 7.4% to 1.77 million tonnes in June, while exports slumped 6.4% from May.

Output is seen rising for a fourth consecutive month in line with the seasonal trend to reach 1.51 million tonnes.

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Malaysian palm oil futures fell nearly 2% on Tuesday and posted their first fall in four sessions, tracking losses in rival vegetable oils.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were down 1.9% at 2,355 ringgit (US$590) per tonne.

Palm oil hit a one-week high of 2,404 ringgit on Monday, as traders covered their short positions ahead of a two-day holiday for Eid celebrations on Wednesday and Thursday. The market was closed for the second half of trade on Tuesday ahead of the public holidays.

Traded volumes stood at 18,924 lots of 25 tonnes each on Tuesday noon.

"Dalian markets had fallen sharply, possibly on news of no stimulus that was said yesterday," said a Kuala Lumpur-based trader, referring to China's Dalian Commodity Exchange.

Chinese commodities futures, including palm oil, dropped on Tuesday as investors lowered expectations for stimulus measures to spur economic activity in the world's biggest consumer of many raw materials.

China is the world's second largest palm oil consuming country, after India.

The September contract for soybean oil, a substitute for palm oil, on the Dalian Commodity Exchange fell 1%, while the most actively traded September contract for palm olein declined 1.1%.

Higher stockpiles in Malaysia could also dent palm oil prices, forecast a Reuters poll of eight traders, analysts and planters. The survey showed inventories likely rose 7.4% to 1.77 million tonnes in June, while exports slumped 6.4% from May.

Output is seen rising for a fourth consecutive month in line with seasonal trend to reach 1.51 million tonnes.

How to trade FTSE Bursa Malaysia KLCI Futures ( FKLI ) 5 July 2016. July 2016

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How to trade Crude Palm Oil Futures ( FCPO ) 4 JULY 2016

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CIMB Investment Bank Bhd said Malaysian palm oil inventory could have risen in June, amid weaker demand. Such dynamics could weigh down crude palm oil (CPO) prices, according to the research firm.

In a note today, CIMB analyst Ivy Ng said the research firm estimated palm oil inventory, comprising CPO and processed palm oil, to have risen 12% month-on-month (m-o-m) to 1.85 million tonnes as at end-June 2016.

"Findings from a survey of 21 planters by the CIMB Futures team revealed that Malaysian CPO output grew by 12.8% m-o-m to 1.5m tonnes in June 16. Palm oil exports
fell approximately 10% m-o-m, based on export statistics released by SGS and ITS.

"Overall, we estimate that Malaysian palm oil inventories may rise 12% m-o-m to 1.85m tonnes as at end-June 16, which is negative for prices. The official figures will be released on 12 July," Ng said.

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How to trade Crude Palm Oil Futures ( FCPO ) 1 JULY 2016

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Malaysian palm oil futures rose for a second session in four on Friday as better performing rival soy oil gave the market a late boost even though a stronger ringgit weighed on prices earlier in the day.

Benchmark palm oil futures for September delivery on the Bursa Malaysia Derivatives Exchange were 0.3% higher at RM2,359 (US$590) per tonne at the close of trade, recording a fourth straight weekly fall.

Traded volumes stood at 28,711 lots of 25 tonnes each on Friday, lower than the 2015 average of 44,600.

"Now palm is up tracking external markets," a trader said of the evening trade, after it fell earlier on a stronger ringgit.

A stronger ringgit, the currency palm oil is traded in, makes the vegetable oil more expensive for holders of foreign currencies. The local currency strengthened 0.7% to 3.9960 per dollar.

The Chicago Board of Trade soy oil contract for December rose 1.1% while the September soybean oil contract on the Dalian Commodity Exchange surged 1.9%.

Palm oil has shed 0.8% so far this week, with traders bearish about market fundamentals. Seasonal output is expected to rise from now until the final quarter of the year, while exports are also seen slowing down until the next major festive season of Diwali in late October.

Palm oil shipments from Malaysia dropped 9-11% in June compared with a month earlier, with a substantial drop in shipments to India, according to data by cargo surveyors.