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Malaysian palm oil futures rose 0.3% on February 4 to 3,237 ringgit a tonne, tracking overnight gains in Chicago soyoil ahead of a USDA report. Traders noted that poor demand limited sustainability of the gains.
Palm prices follow soyoil in the competing vegetable oil complex, so moves in CBOT soyoil transmit into palm and feed fat costs.
brecorder.comReutersFeb 4, 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.
