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The USDA's Jakarta bureau raised its 2017-18 Indonesian palm oil export forecast to 26.5 million tonnes, 1.0 million above the official USDA estimate. That would be a record, above the 25.96 million tonnes shipped in 2014-15.
A record export forecast signals larger available supply for importers, which is bearish for palm oil prices.
poandpo.comAug 3, 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.
