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Malaysian palm oil stocks rose 7.34% in August to a six-month high as output reached a nine-year monthly high while exports slowed. Benchmark futures were already near seven-month lows.
Higher Malaysian inventories signal ample palm supply, which weighs on palm prices and offers competing vegetable oils a relative price advantage.
mpoc.org.mySep 11, 2024After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
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.
