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Malaysian palm oil futures fell 1.4% to 2,336 ringgit per tonne on June 29, extending a four-session losing streak. Traders cited cheaper rival oils, a firmer ringgit and worries about a second COVID-19 wave curbing edible oil demand.
Dalian soyoil and palm contracts also fell.
Weaker rival oils and a stronger ringgit reduce palm's export competitiveness, pressuring prices. Demand concerns from virus resurgence add further downside risk.
brecorder.comReutersJun 29, 2020Not 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.
