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Malaysian palm oil futures have fallen from a September high of 10,500 yuan/tonne, with the main contract closing at 9,271 yuan on October 30. MPOB data showed Malaysian September output up 16.5% month on month and end-stocks rising 24.5% to 3.51 million tonnes, the sixth straight monthly build.
Analysts expect Malaysian stocks to peak after November as output growth slows, while Indonesia's B40 biodiesel push and a weaker 2027 output outlook from GAPKI support deferred contracts.
Near-term Malaysian stock builds and high Chinese commercial inventories cap prices, while expected 2027 output losses from El Niño and biodiesel demand support later delivery months. The curve structure points to firmer deferred palm oil prices if stocks start to fall.
cnfin.comNov 2, 2026Not 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.
