The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last down 0.4% at 2,169 ringgit ($520.02) per tonne around noon.

Palm oil may retest a support at 2,160 ringgit per tonne, following its failure to break a resistance at 2,192 ringgit, said Wang Tao, a Reuters market analyst for commodities and energy technicals.

"The stronger ringgit coupled with overnight weakness in the soybean oil market caused palm to fall," said a Kuala Lumpur based trader.

The ringgit, the currency which palm is traded in, rose 0.24% against the dollar, making the edible oil cheaper for foreign buyers.

U.S. soyoil futures on the Chicago Board of Trade fell 0.9% on Tuesday, but were last up 0.4% on Wednesday.

Chicago corn futures edged up on Wednesday to recover from their lowest in more than three months, buoyed after a U.S. crop tour forecast lower yields, while soybeans and wheat also gained

In other related edible oils, the September soyoil contract on the Dalian exchange last rose 0.2% on Wednesday, while the Dalian September palm oil contract was up 0.4%.

Palm oil prices are affected by movements in related oils that compete in the global vegetable oils market.