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Malaysian palm oil futures for November delivery rose about 1% in early trade on Tuesday, recovering from earlier losses. Traders cited tighter supply concerns after a poor monsoon forecast for India.
A weak Indian monsoon could cut domestic oilseed output and raise import demand for palm oil, supporting prices.
brecorder.comReutersAug 29, 2023After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
