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Rabobank has lowered its second-quarter price estimate for Malaysian palm oil to $574.85/mt. The revision reflects oil palms recovering from drought and returning to normal output, with March production above expectations.
Larger expected US soybean plantings and a bigger Argentine soy crop have also weighed on prices.
Higher palm output and competing soy supply add to vegetable oil availability, pressuring palm oil prices and the wider oilseed complex that feeds into meal and oil costs.
biofuelsdigest.comMeghan SappApr 27, 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.
