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Malaysian palm oil futures closed at a four-week low on Tuesday, down 1.8% to 2,614 ringgit a tonne, after a third straight day of losses. Partial August exports were seen down 14% to 16%, and the ringgit rose to its strongest level since March.
Weaker export pace and a firmer ringgit both reduce the appeal of palm oil to foreign buyers, which pressures prices. Feed buyers may see softer vegetable oil input costs in the near term.
brecorder.comReutersAug 25, 2020After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
