# Palm oil falls more than 2%, ending three-session rally - Markets - Business Recorder

> Malaysian palm oil futures fell 2.53% to 3,884 ringgit a ton, ending a three-session rally. Traders awaited industry forecasts of Malaysian June supply and demand. Losses were limited by US soybean crop concerns and a weaker ringgit.

- Date: 2023-07-04 · published 2023-07-04T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6547-palm-oil-falls-more-than-2-ending-three-session-rally-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

A pullback after a sharp rally reflects profit-taking, while the pending Malaysian supply data will set the next direction. Soyoil support is limiting the decline.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40250982

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