# OCBC downgrades CPO futures to RM2,250 per tonne by year-end | Borneo Post Online

> OCBC Bank cut its year-end 2017 crude palm oil futures forecast to RM2,250 per tonne, citing weaker recent prices. The bank said supply growth is accelerating while seasonal demand fades after Ramadan, and it expects Malaysian output to rise about 15 per cent.

- Date: 2017-06-30 · published 2017-06-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/70586-ocbc-downgrades-cpo-futures-to-rm2-250-per-tonne-by-year-end-borneo-post-online
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A bank forecast of lower year-end prices and rising Malaysian output signals bearish pressure on palm oil, which competes with soybean oil and feeds into soy and other vegetable oil markets.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼

## Sources

- theborneopost.com: https://www.theborneopost.com/2017/06/30/ocbc-downgrades-cpo-futures-to-rm2250-per-tonne-by-year-end/

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