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Malaysian palm oil futures fell more than 3% on September 23, tracking weaker Dalian oils and expectations of higher output in Malaysia and Indonesia. Palm oil was down about 7% for the week on worries about European lockdowns hurting demand, though it was still up for the month.
Rising September output from Malaysia and Indonesia adds supply while lockdown-related demand concerns weigh on prices. Lower palm oil prices can reduce competing vegetable oil costs for feed formulators.
in.investing.comSep 23, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Palm oil fell over 3% on Sept 23 on weaker Dalian oils and higher output expectations, pulling competing vegetable oils including soyoil lower.
