Loading…
Malaysian palm oil futures extended gains to their highest in nearly three and a half months, tracking US soybean oil on the CBOT and related oils on China's Dalian exchange. The October contract rose 2.1% to 2,179 ringgit a tonne and gained 5.7% for the week.
Palm oil is moving with soybean oil and Dalian oils, so firmer vegetable oil prices raise the cost of oil-based feed ingredients and support soybean oil values.
dawn.comReutersAug 10, 2019Not 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 rallied 5.7% on the week to a 3.5-month high while tracking CBOT soybean oil, confirming a strong soyoil rally and supportive vegoil sentiment.
