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Palm oil for May delivery fell as much as 2% to 2,871 ringgit a tonne on Bursa Malaysia Derivatives, a three-month low, and was on track for its biggest weekly drop since October 2015. Analysts cited weak demand, the higher March export tax and soybean oil losses.
Weak demand and expected higher Malaysian stocks point to continued pressure on palm oil. Lower soybean oil values also weigh on the vegetable oil complex.
dmaworks.blogspot.comGT KhooFeb 17, 2017Not 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.
Describes a ~2% fall to a three-month low driven by weak demand, the higher March export tax and soybean oil losses, matching the drop's mechanisms, but it is dated 17 Feb, a day after the move window, so it may reflect adjacent-day declines.}
