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Malaysian palm oil futures reversed earlier losses to close higher on Monday, supported by expectations of falling output. Palm was still down nearly 7% for the month amid weak exports and losses in US soyoil.
Malaysian output fell 2.1% on the month in May.
Expectations of lower Malaysian output are supportive for palm prices, but weak export demand from India and China limits the upside. Feed buyers face a market that is firm in the short term but soft overall.
thestar.com.myThe Star OnlineJun 25, 2018Not 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.
