Malaysian palm oil futures extended their decline, remaining below MYR 4,500 per tonne and notching their lowest level since June. A stronger ringgit and weakness in Dalian and Chicago edible oils rattled sentiment, alongside expectations that October stockpiles reached a fresh record after September’s peak. Lower crude oil prices also weighed on demand prospects, as a Democratic sweep in the US midterms fuelled expectations of greater pressure on President Trump to seek a resolution to the Iran conflict, reducing palm oil’s appeal as a biodiesel feedstock. Competitive pressure increased after Indonesia cut its November CPO reference price by 6.07% to USD 978.90 per tonne and lowered its export levy, boosting the attractiveness of its supplies. Still, losses were partly capped by solid demand, with October exports surging 45.4%-73.5% from September. Meanwhile, palm oil imports in top buyer India climbed to a 14-month high ahead of Diwali.