Loading…
Malaysian palm oil futures rose 2.27% on Friday, tracking gains in soyoil and crude, but the benchmark December contract still posted a fifth straight monthly decline. The contract fell about 17.5% in September on oversupply and weakening demand concerns.
Palm oil is a substitute for soyoil and feeds into biofuel demand, so the monthly slump points to cheaper vegetable oil supply for feed and food users, while a crude rebound offers short-term support.
brecorder.comReutersSep 30, 2022brecorder.comReutersSep 30, 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.
