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Malaysia posted a record July trade surplus of MYR 25 billion, with exports up 3.1% year on year, beating consensus. Electronics led growth, while palm oil exports rose 52% year on year and oil and gas exports fell 21%.
Strong palm oil export demand supports palm oil prices and tightens the vegetable oil balance for feed use. The stronger trade surplus also supports the ringgit.
think.ing.comAug 28, 2020After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
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.
