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Indian edible oil and oilseed markets have been under pressure since early June, driven by weaker overseas edible oil prices, a weaker rupee and softer crude. Malaysian palm oil futures fell about 8% for a second straight week, while Chicago soybean futures remain high despite forecasts for a record U.S. harvest.
USDA raised Brazil's 2021/22 soybean estimate to 126 million tonnes.
Higher South American supply and weaker palm oil reduce global vegetable oil and meal support, while Indian buyers face a weaker currency that raises the landed cost of imports.
krishijagran.comAbhijeet BanerjeeJun 19, 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.
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.
Malaysian palm oil futures fell about 8% for a second week amid weaker crude and overseas edible oil prices, dragging down competing vegetable oils such as soybean oil.
