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Malaysian palm oil futures reversed earlier losses to close flat at 3,930 ringgit per tonne on Wednesday after dipping to 3,862. Indonesian Palm Oil Association expects Indonesian end-2021 stocks to shrink to 2.67 million tonnes as demand outpaces output.
Expected tightening of Indonesian stocks and slightly better demand support palm prices, which in turn supports competing vegetable oil and meal pricing. Biodiesel demand from cheaper crude also underpins the market.
brecorder.comReutersMar 24, 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.
