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Malaysian palm oil futures fell more than 1 percent on Monday on expected higher October inventories and weaker crude oil. A Reuters survey forecast end-October stocks at nearly 3 million tonnes, the highest in three years.
Rising inventories and weaker crude oil, which drives palm oil's biodiesel demand, pressure palm prices. Stocks are expected to keep climbing until they stabilise.
dawn.comReutersNov 6, 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.
Futures fell on expectations of October stocks near 3 million tonnes, a three-year high, plus weaker crude oil, a supply-glut and energy-linked driver within the window.
