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RAM Ratings raised its 2017 average crude palm oil price forecast to RM2,700-2,900 per tonne from RM2,300-2,500. It expects 2018 prices to fall back to RM2,300-2,500 as stocks rise and soybean oil supply competes.
Analyst forecasts point to firm palm oil prices through 2017 but a lower outlook for 2018, which signals softer vegetable oil and meal pricing ahead.
theborneopost.comchinSep 24, 2017After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% 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.
