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Malaysian palm oil futures fell more than 3% on Nov 5 to 4,910 ringgit per tonne and were set for a weekly loss of 2.3%. Analysts expect Malaysian end-October stocks rose 3.5% to 1.81 million tonnes on lower exports, with October output estimated down 1.2%.
Rival oils also declined.
Higher stock expectations and weaker rival oils pressure palm and soyoil prices, lowering vegetable oil input costs. The move is a routine market decline tied to inventory data.
brecorder.comReutersNov 7, 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.
Describes the same 3% fall driven by an expected 3.5% rise in stocks to 1.81 mt on lower exports and weaker rival oils, but it is dated Nov 5, after the window.
