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Malaysian palm oil futures moved through mid-December 2018, rising to a three-week peak on expectations of lower Malaysian output and easing Indonesian stocks, and falling on weaker US soyoil and declining exports. Analysts expected prices to rebound in 2019 if a developing El Nino reduces production.
Palm oil competes with soyoil in edible and biodiesel markets, so its moves track vegetable oil prices, and expected El Nino-driven output cuts point to firmer palm prices into 2019.
brecorder.comDec 18, 2018Not 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.
