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Malaysian palm oil futures rose on June 2, 2020, with the August Bursa Malaysia contract up 1.36% to 2,316 ringgit by midday. Traders expected lower May output after exports rose 7% to 8.4% month on month.
Weaker soyoil and Sino-U.S. tensions limited the gains.
Expected lower Malaysian production and firmer exports tighten palm oil supply, supporting prices. Weaker soyoil and trade tensions cap the rally, so the price impact stays moderate.
brecorder.comReutersJun 2, 2020Not 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.
Direct market report on June 2 showing Malaysian palm futures rising on expectations of lower May output and strong month-on-month export growth, a supply and demand driver within the move window.
