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Malaysian palm oil rose 0.82% to 3,955 ringgit a tonne on Tuesday, recovering part of a 2% loss from the previous three sessions. Traders bought on bargains and on firmer soyoil on Dalian.
Traders were also waiting for Malaysia's February 1-15 export data.
The move is a routine rebound with no new supply or demand change, so it adds little to the medium-term price outlook. Buyers should look to the export data for a clearer direction.
brecorder.comReutersFeb 15, 2023Not 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.
