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Malaysian palm oil futures climbed to a one-week high on Wednesday, extending gains for a third day. The rise followed higher US soyoil on CBOT and a weaker ringgit, which fell to its weakest level against the dollar since late December.
A weaker ringgit makes palm oil cheaper for foreign buyers, which supports export demand and prices. Firmer soyoil adds further support to vegetable oil values.
thestar.com.myThe Star OnlineMay 15, 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.
