Malaysian palm oil futures fell more than 1% on Friday

concerned about weak demand, he adds. Ng sees support for crude palm oil futures at 3,850 ringgit per tonne, with resistance at 4,050 ringgit per tonne. K The benchmark FCPO1 palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange fell 74 ringgit, or 1.86%, to 3,906 ringgit (US$958.76) per metric ton, its lowest closing price since June 12. The contract is down 2.79% this week. Crude palm oil prices were mainly pressured by weakness in the competing oilseeds market, where Dalian palm olein oil remained in the red after an overnight decline, a Kuala Lumpur trader said. “The stable ringgit exchange rate around 4.08 is also holding buyers back,” the trader added. The ringgit strengthened 0.17% against the dollar, making the commodity expensive for buyers holding foreign currencies. The most actively traded soybean oil contract in Dalian fell 1.41%, while the palm oil contract fell 1.33%. Soybean oil prices on the Chicago Mercantile Exchange fell 0.23%. Palm ...