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Malaysian palm oil futures fell for the second consecutive trading day, hovering below 4,600 ringgit per ton.The expectation of rising inventories is creating additional pressure, as shipping survey agencies estimate exports may fall 8.8% to 15.5% compared to April, highlighting weak demand.Purchases by India, the world’s largest palm oil importer, have slightly rebounded from the four-month low seen in April, but remain below normal levels.Nevertheless, futures prices are still on track for a third consecutive weekly gain, up 0.7% so far this week, supported by the weakening ringgit which boosts export competitiveness. Crude oil prices are also set for substantial weekly gains due to stalled negotiations between Washington and Tehran, which has enhanced palm oil’s appeal as a biodiesel feedstock.

According to Odaily, Onchain Lens monitoring shows that as the ETH trading price fell below $1,700, an address suspected to be related to BIT is holding 120,000 ETH with long positions of 15 to 20 times leverage. Currently, this address has an unrealized loss of over $69 million and has already paid $1.86 million in funding fees.

Japanese Finance Minister says will decisively defend the yen, but intervention room continues to narrow