
Malaysian palm oil futures fell more than 2% on November 5 to their lowest close since March 6. October inventories were estimated to have risen 6.8% month on month to 3.75 million tonnes, while higher production, potential Indonesian export acceleration, and a stronger ringgit added pressure.
Growing inventories and production increase available supply, while possible Indonesian export growth intensifies competition for buyers. These factors point to further downside risk for palm oil prices.
After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.