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Malaysian benchmark palm oil futures are down 7.1% this quarter, on course for a seventh straight quarterly drop, the longest run since futures began in 1995. Prices touched 1,951 ringgit a ton, the lowest intraday level in seven months, after a seventh straight daily decline.
Persistent stockpiles in top growers and weak demand are weighing on the market while grains rally on U.S. weather disruption.
Heavy palm and soy stocks plus soft demand keep vegetable oil prices under pressure, weakening the outlook for palm-derived feed ingredients and competing oilseed meals. Buyers can expect continued softness unless exports recover or stockpiles fall.
themalaysianreserve.comJun 28, 2019
thestar.com.myThe Star OnlineJun 27, 2019Not 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.
