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Malaysia's plantation minister said on January 10 that palm oil prices would average between 2,700 and 2,800 ringgit in 2017. The forecast sits well below where benchmark prices were trading at the time.
A government forecast of lower average prices signals expected easing from elevated levels, which could weigh on vegetable oil values and soften demand for substitute feed fats.
reuters.comJan 10, 2017After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
