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Crude palm oil futures for October delivery fell about 0.7% to 2,056 ringgit a tonne on August 1, 2019, their lowest level in a week. The decline followed a drop in Chicago soyoil after US-China trade talks went poorly.
President Trump criticized China for not buying American farm products and renewed threats of 25% tariffs.
Renewed escalation risk in the US-China trade war weakens demand for vegetable oils and pushes palm oil and soyoil prices lower.
cnbcindonesia.comTaufan AdharsyahAug 1, 2019After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% over 20.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
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.
