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Malaysian palm oil futures fell 4.88% to RM2,477 on Friday, a five-month low. Traders cited expectations of rising stockpiles, weaker demand and a stronger ringgit.
Intertek and SGS both reported lower November exports, and a Reuters poll expected stocks to rise 11.4% to 2.44 million tonnes.
Expected stock build to the highest level since December 2015 points to ample supply and softer prices for palm oil and competing vegetable oils, which lowers the cost of fats used in feed.
theborneopost.comsuperuserDec 9, 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.
