# CPO to extend bearish trend on subdued demand | The Star

> Bursa Malaysia crude palm oil futures for October rose 1.25% to 2,028 ringgit per tonne, a third straight daily gain. Traders expect the contract to trade between 1,900 and 1,945 ringgit next week on subdued demand and rising production expected in coming months. Palm oil is tracking Chicago soyoil as both compete for the same export markets.

- Date: 2019-06-29 · published 2019-06-29T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/58689-cpo-to-extend-bearish-trend-on-subdued-demand-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expected production increases and weak demand point to continued pressure on palm prices, which feeds into competing vegetable oil and meal pricing. Soyoil tracking suggests linked moves in the soy complex.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2019/06/29/cpo-to-extend-bearish-trend-on-subdued-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.