Loading…
Crude palm oil on Bursa Malaysia fell 3.03% to 3,289 ringgit per ton in the morning session on May 31, 2023, its lowest in a month. Malaysian exports for May were reported mixed by cargo surveyors, and palm output was expected to rise in May.
Dalian soyoil and palm contracts and CBOT soyoil also declined.
Expected higher May palm output and weaker rival oils add supply pressure and push down vegetable oil prices. Mixed export data limits the strength of the bearish signal.
en.infosawit.comInfoSAWIT EnglishJun 1, 2023Not 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.
Morning-session drop on May 31 tied to mixed export data, expected higher May output (supply) and weaker Dalian and CBOT soyoil.
Morning-session weakness on May 31 with mixed exports and expected higher output reflects supply and demand pressure behind the slide.
