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Crude palm oil prices fell about 11% in the first half of 2019 on the September Malaysian contract, closing June at 1,915 ringgit per tonne. Analysts blame the US-China trade war, slower global growth and China's preference for cheaper soyoil.
Trade-war uncertainty and substitution toward cheaper soyoil by China keep palm demand weak, pressuring palm oil prices.
insight.kontan.co.idDanielisa Putriadita, Yasmine MaghfiraJul 5, 2019After 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.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% 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.
