Profit taking in palm oil market next week?

Malaysian palm oil futures extended a downward trend, closing 0.3 percent lower on Monday as weak demand weighed on prices.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to see profit taking next week as oversupply concerns loom in line with the seasonal trend, said a dealer.

This is more so in a short-trading week as investors will avoid taking long positions.