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Malaysian palm oil futures closed slightly lower on profit-taking after hitting a more than eight-year high the previous session. The benchmark January contract still rose 5.6 percent for the week.
Palm prices were trading about $10 below competing Chicago soyoil.
Palm oil remains near multi-year highs as tight inventories support prices, and its competitiveness against soyoil will shape vegetable oil demand.
brecorder.comReutersNov 6, 2020Not 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.
