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Palm oil traded slightly lower this week on reports of better crops and rising stocks, along with expanded US soybean planting and larger South American soy forecasts. Traders expect further weakness over the coming quarters, partly on rumours that the US and EU may restrict palm oil in biofuel blending.
Coconut oil held up due to strong demand and dry weather in Sri Lanka and Indonesia.
Weaker palm prices reduce costs for vegetable oil users, while coconut product tightness suggests that supply problems can still support prices for individual oils.
tmduche.comApr 28, 2017Not 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.
