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Malaysian palm oil futures rose to a two-week high on Thursday, tracking gains in Chicago soyoil and firmer export shipments for May 1-15. Palm was up 4.5% for the week, and traders cited continued gains in competing vegetable oils after easing US-China tariff concerns.
Stronger export flows and soyoil gains support palm and soybean oil prices, since the two oils compete for global vegetable oil demand. Feed buyers may see higher vegetable oil and meal-linked costs in the near term.
sg.finance.yahoo.comEmily ChowMay 16, 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.
