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Malaysian palm oil futures were nearly unchanged on February 8 after three sessions of gains, with the April contract closing up 1 ringgit at 3,878. Planter forecasts showed sharp declines in January output and stocks, with stockpiles seen falling to 2.14 million tons.
Expected seasonal output declines and falling stocks tighten near-term palm supply, supporting prices. Exports are expected to hold up as Indian buyers return, which limits downside.
brecorder.comReutersFeb 8, 2024Not 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.
