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Malaysian palm oil futures hit a 10-week high on Wednesday, lifted by concerns that dry weather in Indonesia could curb output. The October contract rose as high as 2,109 ringgit per tonne before settling flat at 2,102 ringgit.
Dry weather risk to Indonesian output supports palm prices, though the flat close shows limited follow-through and buyers may hedge against further gains.
thestar.com.myThe Star OnlineAug 7, 2019After 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.
