
Palm oil closed at its highest level since late July on concerns that dry weather and aging trees will hurt Indonesian output. Industry groups forecast production flat to 5% lower year on year, after earlier predicting a rise.
Soybean oil prices also provided support.
Lower Indonesian output, the world's largest palm producer, tightens global vegetable oil supply and supports prices. Stronger soybean oil adds further support as a substitute.
Setelah 181 peristiwa cuaca bullish sebelumnya, Minyak Sawit bergerak median +0,5% selama 5 sesi (56% lebih tinggi; separuh tengah -0,9% sampai +1,9%), dan +0,3% selama 20 sesi.
Setelah 184 peristiwa cuaca bullish sebelumnya, Minyak Kedelai bergerak median +0,3% selama 5 sesi (53% lebih tinggi; separuh tengah -1,9% sampai +2,4%), dan -0,5% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
On 2024-09-02 palm closed at its highest since late July on dry weather and aging-tree concerns, with output forecast flat to 5% lower and soyoil support, directly explaining the jump.
Concerns that dry weather and aging trees will cut Indonesian output (flat to 5% lower) pushed palm to a multi-week high, a direct supply-side driver heading into the move.