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OCBC Bank cut its year-end 2017 crude palm oil futures forecast to RM2,250 per tonne, citing weaker recent prices. The bank said supply growth is accelerating while seasonal demand fades after Ramadan, and it expects Malaysian output to rise about 15 per cent.
A bank forecast of lower year-end prices and rising Malaysian output signals bearish pressure on palm oil, which competes with soybean oil and feeds into soy and other vegetable oil markets.
theborneopost.comJustJun 30, 2017Not 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.
