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Malaysian palm oil futures fell 1.58% to 5,114 ringgit after closing at their highest since mid-June 2022 the prior session. Weakness in soyoil and crude oil pressured the market, and Malaysia's October palm oil stocks shrank the most in seven months as exports surged.
Lower crude oil weakens palm's attractiveness as biodiesel feedstock, pressuring prices. The sharp October stock drawdown from strong exports offers some underlying support.
brecorder.comReutersNov 13, 2024Not enough comparable past events yet for a historical read.
Not 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.
