Malaysian palm oil futures posted their first weekly decline in five weeks

anticipates weaker demand going forward. He forecasts support above MYR4,050 per tonne and resistance at MYR4,300. The benchmark FCPO palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange lost MYR53, or 1.26%, to MYR4,153 (US$1,052.72) per metric tonne. For the week, the contract has lost 1.8%. “Palm oil futures on Bursa Malaysia traded lower after spreads adjusted against rival oilseeds. Market participants adopted a cautious stance ahead of the Malaysian Palm Oil Conference in Kuala Lumpur next week,” said a Kuala Lumpur-based trader. The most active Dalian soybean oil contract, DBYcv1, fell 0.44%, while the palm oil contract lost 1.02%. Chicago Mercantile Exchange soybean oil prices fell 0.55%. Palm oil prices follow the price movements of rival edible oils as it battles for share in the global vegetable oil market. According to a Reuters poll, Malaysian palm oil inventories are expected to end a ten-month streak of gains in January as exports surged ...