Global edible oil prices fell over the past week as crude oil declined and palm oil inventories rose. Bursa Malaysia palm oil futures dropped 6.8% and Malaysian October stocks reached a record 3.621 million tonnes.
CBOT soybean oil also declined 4%.
Record palm oil stocks and weaker crude reduce the cost of vegetable oils and weigh on feed-related fats and oils. Prices are likely to stay under pressure unless stocks fall or crude recovers.
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.