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Malaysian palm oil futures rose more than 1% on Monday, snapping five sessions of losses, and the December contract closed at 2,162 ringgit a tonne. The gain tracked stronger CBOT soyoil and crude oil, which jumped to a four-year high after OPEC declined to announce an immediate output increase.
Palm oil is used as biodiesel feedstock, so higher crude prices improve its competitiveness and support prices. Palm had just hit a three-year low, so the rebound may be short-lived if crude weakens.
yahoo.comReutersSep 24, 2018Not 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.
