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Malaysian palm oil futures fell to a one-week low and extended losses over several sessions on high inventory levels and expected higher output in March. Prices recovered somewhat at one point on short covering.
The benchmark June contract traded near 2,132 ringgit per tonne.
Routine price moves driven by stock levels and output expectations signal soft near-term palm oil values. Feed buyers using palm-based ingredients can expect continued pressure while inventories remain high.
brecorder.comMar 28, 2019Not 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.
