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Palm oil futures jumped over 4% on Tuesday to 2,282 ringgit per tonne, their highest in more than three weeks. The gain followed rises in related oils on the Dalian exchange and overnight strength in Chicago soybean oil.
A weaker ringgit also supported prices.
Palm oil moves with soyoil and other vegetable oils, and a weaker ringgit makes Malaysian palm cheaper for foreign buyers, which supports demand. Feed buyers should expect vegetable oil prices to follow these cross-market moves.
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.
