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Malaysian palm oil futures opened lower on Friday, tracking weaker Dalian vegetable oil contracts. The March contract lost 0.48% to 4,312 ringgit a ton and was down 6.96% for the week.
Palm oil follows rival edible oils in the Dalian market, so soyoil and palm losses reinforce each other. The weekly decline signals softer vegetable oil pricing heading into the new year.
brecorder.comReutersJan 3, 2025Not 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.
Futures tracked weaker Dalian vegetable oils and were down about 7% for the week, directly reflecting the window's decline (rival oil spillover).
Futures tracked weaker Dalian vegetable oils lower and were down about 7% for the week, reflecting spillover from competing oils.
