Palm | Kelapa Sawit

Soyoil in e-CBOT tumbled and loss 170 points which Dalian palm and soyoil both closed limit down. Re-emerge talks that China may cut import taxes for cooking oil prompted the selling in Dalian commodity exchange. Generally market sentiment still weak as players concerns over higher production and to be peak in October. Traditionally, weather in USA also ideal for the crop. Technical selling resumed after last week's rebound from 2351 to 2753 and unable to sustain. This had given the bear to reclaim the selling.