Malaysian palm oil futures for October delivery opened lower on Thursday, sliding 13 ringgit, or 0.28%, to 4,689 ringgit on the Bursa Malaysia Derivatives Exchange.
The decline marks a continuation of the pullback that began Wednesday, snapping a two-session winning streak as traders retreated in the absence of fresh market catalysts.
The softening in palm oil was driven by weaker prices in related markets, specifically softer Chicago soybean oil and declining crude oil benchmarks.
Cross-asset pressure from these key inputs weighed on sentiment, prompting profit-taking after the commodity had recently rallied to its highest level in six weeks.
This latest dip reflects a broader shift in trader positioning as participants step back from recent gains.
With no new supply-side developments or demand shocks to support higher prices, the market is digesting the recent rally.