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Malaysian palm oil futures rose 4.76% on Tuesday, their biggest daily gain in 11 months, to reach 4,072 ringgit per tonne, the highest close since March 15. The move followed a 4.11% jump in Chicago soyoil futures.
Palm oil tracking soyoil higher raises vegetable oil costs for feed makers and supports fats and oilseed meal pricing across the complex.
brecorder.comReutersApr 27, 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.
Palm oil futures jumped 4.76% on 27 April, the biggest daily gain in 11 months, following a rally in Chicago soyoil; this shows the same momentum and a related price spike, though it falls a few days before the window.
