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Malaysian palm oil futures for August delivery fell 7.8% to 3,378 ringgit a tonne, their lowest since February 5, extending losses to a sixth session. Indonesian exports fell more than 18% in April from the prior month, and CBOT soyoil dropped 3.4% to its lowest in nearly four months.
Washington was also reported to be considering relief for refiners from biofuel blending mandates.
Weaker Indonesian export flows reduce near-term palm demand, and the possibility of lower US biofuel blending mandates reduces soyoil demand. Both point to lower vegetable oil prices.
brecorder.comReuters14 juin 2021Après 158 événements commerce baissier passés, Huile de palme a varié en médiane de +0,0 % sur 5 séances (51 % de hausses ; moitié centrale de -1,3 % à +0,8 %), et de -1,4 % sur 20.
Après 152 événements commerce baissier passés, Huile de soja a varié en médiane de -0,2 % sur 5 séances (47 % de hausses ; moitié centrale de -2,1 % à +2,1 %), et de -0,1 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
On June 14 palm fell 7.8% to a 4-month low on weaker soyoil, sliding demand and reported US biofuel mandate relief, directly driving the 5-day decline.
CBOT soyoil fell to a near four-month low alongside palm on June 14, showing cross-market vegetable oil selling and biofuel mandate relief fears.
The 7.8% drop to a 4-month low on weaker soyoil and sliding demand is dated June 14, just after the window ends, but it reflects the same selloff and shows its drivers (soyoil, biofuel relief talk).
