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Malaysian palm oil futures rose to their highest since February 2011 after a Reuters survey showed December stockpiles falling to a 13-year low. The March contract closed up 0.86% at 3,756 ringgit a tonne.
Indonesia also reported biodiesel output for January to November 2020.
Lower Malaysian inventories and steady biodiesel demand keep palm oil supply tight, supporting prices for vegetable oil and feed fat buyers.
brecorder.comReutersJan 5, 2021After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
Palm futures hit a 10-year high on Jan 5 after a Reuters survey showed December stocks at a 13-year low, a direct supply-tightness driver within the window.
