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Malaysian palm oil futures rose for a second day on February 5 on expectations of lower January stockpiles and output, though the contract was set for a 3.9% weekly decline. A CGS-CIMB survey projected January output down 14% month on month.
Expected stock drawdowns support palm oil prices, but weak weekly performance shows demand concerns limiting gains.
in.investing.comFeb 5, 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.
