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Malaysian palm oil prices climbed to their highest in over 10 years on March 8, 2021. Palm oil trader David Ng attributed the gains to strong crude oil sentiment and a surge in Chicago soybean oil.
Crude oil and soybean oil strength push palm oil higher through biofuel and substitution linkages, raising vegetable oil costs for feed buyers.
thestar.com.myThe Star OnlineMar 8, 2021Not 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.
Same-day coverage cites strong crude sentiment and a Chicago soyoil surge as drivers, confirming the move but partly a reflection of it rather than an independent cause.
