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Malaysian palm oil futures fell to a two-week low on Monday, extending losses to a third session on weaker exports. AmSpec reported that Malaysian palm product exports fell 5.7% in April from March.
Lower Malaysian shipments suggest softer export demand, which tends to push palm oil prices down and can weigh on competing vegetable oils used in feed.
business-standard.comReutersApr 30, 2018After 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 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), 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.
Palm futures hit a two-week low on 2018-04-30 as AmSpec showed April exports down 5.7% from March, a direct demand-side driver of the day's drop.
Palm futures hit a two-week low on Apr 30 as AmSpec showed April exports down 5.7%, a demand/trade-flow signal that fed directly into the selloff heading into May 1.
