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Malaysian palm oil futures rose about 3.9% on Tuesday to 4,006 ringgit a tonne, rebounding from a one-month low after a 10% weekly fall. Support came from stronger rival vegetable oils and crude, along with reports that Indonesia's B40 biodiesel road test is going well.
Traders were also awaiting Malaysia's Nov. 1-20 output data.
Firmer rival oils and crude plus Indonesian biodiesel progress support vegetable oil prices and add demand expectations for palm, soyoil and related oilseed products. The rebound is largely technical, so the price lift may be short-lived until production data confirm the trend.
brecorder.comReutersNov 23, 2022Not 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.
