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Malaysian palm oil inventories rose 25.3% in August to 1.87 million tonnes, the highest since June last year, according to MPOB data. The increase exceeded a Reuters poll forecast, as output rose 11.8% and exports plunged.
Higher stockpiles signal looser supply and could pressure benchmark palm oil prices, which were near record highs. Buyers may gain negotiating room as inventories build.
reuters.comMei Mei ChuSep 10, 2021After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
