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Malaysian palm oil inventories were estimated to have risen 12% in August to two million tonnes, an 18-month high, according to a Bloomberg survey. Production outpaced overseas sales, and the official MPOB data was due September 11.
Rising stockpiles signal ample supply relative to demand, which is bearish for palm oil prices. Buyers in India and China would need to step up purchases to absorb the surplus.
themalaysianreserve.comDzulSep 5, 2017After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), 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.
