# Palm oil gains as traders see lower May output - Markets - Business Recorder

> 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.

- Date: 2020-06-02 · published 2020-06-02T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/9160-palm-oil-gains-as-traders-see-lower-may-output-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

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.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2020-06-02 | 5 | +12.9% | 3.7 | 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. |

## Sources

- brecorder.com: https://www.brecorder.com/news/1000781

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.