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Malaysian palm oil futures extended gains to a fourth session as the ringgit weakened against the dollar. The November contract rose 28 ringgit to 3,961 ringgit per metric ton, with Malaysia's August exports estimated at about 1.38 MMT.
A weaker ringgit makes Malaysian palm oil cheaper for foreign buyers, supporting export demand and prices. Firmer crude oil also supports palm as a biodiesel feedstock.
tradingview.comSep 3, 2024Not enough comparable past events yet for a historical read.
Not 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.
On 3 Sept palm futures extended gains for a fourth session as a weaker ringgit made palm cheaper for foreign buyers, supporting the rally.
