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Malaysian palm oil futures closed 1.4% lower on Thursday as November exports fell 19% from October's pace, with shipments to India down nearly 50%. Supply concerns from lower output and La Nina rains limited the decline.
Crude oil prices slipped 1%, reducing palm's biodiesel appeal.
Weaker export demand pressures palm prices, but tight supply from La Nina-related output losses limits downside. Lower crude prices reduce biodiesel feedstock appeal.
brecorder.comReutersNov 26, 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.
