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Malaysian palm oil futures fell about 0.8% on Wednesday to 3,866 ringgit, the lowest close since November 10. Aggressive offers from Indonesia and a firmer ringgit weighed on prices.
Traders were waiting for full-month export and production estimates.
Lower Indonesian offers and weaker Indian demand point to softer vegetable oil prices, which can ease costs for feed-fat users. The pending month-end export and output data could set the next directional move.
brecorder.comReutersNov 29, 2023Not 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.
