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Malaysian palm oil futures fell 2.53% to 3,884 ringgit a ton, ending a three-session rally. Traders awaited industry forecasts of Malaysian June supply and demand.
Losses were limited by US soybean crop concerns and a weaker ringgit.
A pullback after a sharp rally reflects profit-taking, while the pending Malaysian supply data will set the next direction. Soyoil support is limiting the decline.
brecorder.comReutersJul 4, 2023Not 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.
