
Malaysian palm oil futures closed down 0.87% at 4,113 ringgit a tonne on July 22, following weaker soyoil. Malaysia's July 1-20 palm product exports fell 9.6% from June, with shipments to India and China lower, and the market awaited the August export tax announcement.
Lower exports and weaker soyoil point to softer vegetable oil demand, while hopes for a lower Malaysian export tax reference price could support exports later in the month.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.