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Malaysian palm oil futures fell more than 3% on Tuesday after trading resumed from a holiday, with the August contract closing 156 ringgit lower at 3,920 ringgit per ton. Weakness in Dalian soyoil and crude oil prices weighed on the market.
Weaker crude reduces palm's appeal as biodiesel feedstock and weaker rival oils pull prices lower, easing vegetable oil costs for feed buyers.
brecorder.comReutersJun 4, 2024Not enough comparable past events yet for a historical read.
Not 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.
