Palm on track for second session of losses on weaker overnight soyoil

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Palm on track for second session of losses on weaker overnight soyoilMalaysian palm oil futures extended losses at the midday break on Friday, weighed by weakness in overnight U.S. soyoil on the Chicago Board of Trade (CBOT) which came under pressure after U.S. President Donald Trump's fresh tariff threat against China. Trump said on Thursday he would impose a 10% tariff on $300 billion of Chinese imports from Sept. 1 and could raise tariffs further if China's President Xi Jinping fails to move more quickly to strike a trade deal. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was last down 0.3% at 2,058 ringgit ($495.66) per tonne at the midday break, in line for a second session of losses.


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