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Malaysian palm oil futures recovered from early losses to hover near a five-month high on Tuesday. Production in Malaysia for July 1-20 was down about 5%, and a labour shortage may cut yields by up to 25%.
Heavy rain and flooding in Malaysia and Indonesia have raised worries about harvesting.
Falling output and labour constraints tighten palm supply during a seasonal period, supporting prices and raising costs for vegetable oil used in feed.
brecorder.comReutersJul 21, 2020After 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.
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.
