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Palm oil futures for November retreated from a contract high after Malaysian exports fell 15% in the first half of August, with shipments to China and the EU sharply lower. Traders also expected higher production, prompting profit-taking.
Weaker export demand from Malaysia and expectations of higher output point to looser palm oil supply and softer prices in the near term.
news.bloomberglaw.comAtul PrakashAug 17, 2021Not 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.
