◂ Event Timeline

Oct 13, 2020WEATHERIndonesia

Palm climbs for seventh day as Indonesia warns of La Nina hit - Markets

Malaysian palm oil futures rose for a seventh straight session, settling at 3,003 ringgit. Indonesian President Widodo ordered ministers to prepare for an upcoming La Nina that could cause flooding and hurt agricultural output.

Traders reported China booking palm for October, November and January delivery.

WHY IT MATTERS

Expected La Nina flooding and output risks in Indonesia and Malaysia support palm prices. Chinese forward buying adds to demand-side support.

AFFECTSPalm Oil▲

SOURCE
brecorder.comReutersOct 13, 2020

Price reaction & history

Palm Oil▲bullishSO FAR1d -0.0%5d -2.8%20d +8.6%

After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.

Oct 19, 2022Palm climbs for fourth day on weather woes, India tax fears - Markets - Business Recorder+1.0%
Jun 2, 2021Palm oil climbs 5pc, hits two-week high - Markets - Business Recorder+4.3%
Oct 13, 2026Palm climbs to two-week high as El Niño supply fears outweigh stocks - Markets - Business Recorder-0.2%
Jan 4, 2021Malaysian palm oil futures climb - Markets - Business Recorder+10.0%
Nov 4, 2020Palm oil climbs to near 10-month high on tight supply outlook - Markets - Business Recorder+6.0%

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 Oil PALMOIL · GP ▸

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