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LMC International forecast that palm oil prices will weaken further in the short term due to softer demand and distress selling by Indonesia. Indonesia's exports have not normalised because companies must sell part of output domestically before receiving export permits, causing stock buildup.
Forced selling of Indonesian stocks and weaker demand point to continued downside for palm oil, which affects vegetable oil supply for feed users.
businesstimes.com.sgJul 26, 2022
thejakartapost.comReutersJul 27, 2022After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
