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Malaysian palm oil futures were flat in early trade on Wednesday near a two-week low, as higher stocks and lower soyoil prices offset rising exports. Malaysian stocks at end-October reached a three-year high, and exports rose 10.7% to 12.7% in the Nov.
1-15 period.
Stock levels at a three-year high are bearish for palm prices, but strong export pace provides offsetting demand support. The balance keeps prices rangebound in the near term.
brecorder.comReutersNov 16, 2022Not 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.
