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Malaysian palm oil futures fell about 2% in early trade on April 30, with the July contract down 79 ringgit to 3,836 ringgit a ton. The decline followed two sessions of gains and came ahead of cargo surveyors' estimates of April Malaysian palm exports.
Weaker crude oil and softer soyoil reduce palm's appeal as biodiesel feedstock, pressuring prices lower unless export estimates show a strong tightening of supply.
brecorder.comReutersApr 30, 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.
Palm futures fell about 2% in early trade on April 30 ahead of export estimates, directly marking the day of the drop and showing weak export expectations driving sentiment.
