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Malaysian palm oil futures started a fresh downtrend in the week to 18 February 2017, with the May 2017 contract settling at 2,858 ringgit, down 4.5%. Intertek and SGS reported lower first-half February exports, and MPOB data showed end-stocks down 7.6% to 1.54 million tonnes.
Weaker expected Chinese demand and rising output from rival oilseeds pressure palm oil prices lower. Falling exports and stock draws give only partial support to prices.
theborneopost.comFeb 18, 2017Not 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.
