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Malaysian palm oil futures fell 3% on Tuesday to 3,813 ringgit a tonne after Indonesia kept its export-to-domestic sales ratio unchanged. Traders also worried about weak export demand, and Malaysian January exports had dropped 27% month on month.
Indonesia keeping supply flowing to exports, combined with weak demand, adds to the bearish pressure on palm oil and related vegoils. Feed buyers may see softer prices for vegetable oil inputs.
brecorder.comReutersJan 31, 2023After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
