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Malaysian palm oil futures hit a record 5,071 ringgit per tonne in early November before falling 3.9% on negative October export and inventory data. Malaysian October exports fell 11% to 1.41 million tons while stocks rose 3.4% to 1.81 million tons.
Soybean oil futures also fell, down 7.3% over the week, on larger US soybean forecasts and weaker Chinese imports.
Rising palm stocks and softer soyoil reduce vegetable oil cost pressure for feed formulators. The decline is a pullback from record levels, with the US crop outlook adding to bearish pressure.
ukragroconsult.comNov 9, 2021Not 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.
