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Gold fell as a firm dollar and expected rate hikes weighed on demand, while India raised its bullion import tax. Indonesia proposed raising palm oil export quotas and considered higher biodiesel blending to support farm prices.
Russia cut grain export taxes.
Indonesia's larger export quotas add palm supply, while Russia's lower grain export taxes should encourage more wheat exports and weigh on world grain prices. Higher biodiesel blending would partly absorb palm supply and could support prices.
arabnews.comNirmal Narayanan3 Jul 2022Setelah 399 peristiwa kebijakan bearish sebelumnya, PALMOIL bergerak median -0,0% selama 5 sesi (49% lebih tinggi; separuh tengah -1,3% sampai +1,1%), dan +0,2% selama 20 sesi.
Setelah 122 peristiwa kebijakan bearish sebelumnya, WHEAT bergerak median -0,3% selama 5 sesi (44% lebih tinggi; separuh tengah -1,9% sampai +1,2%), dan +0,4% 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.
Weekend news that Indonesia proposed raising palm export quotas signaled larger export supply, driving the Monday selloff (biodiesel blending only a partial offset).
Indonesia's proposal to raise export quotas signals more supply reaching the market, weighing on prices.
Russia cutting grain export taxes can raise export supply and competition for wheat, and the firm dollar weighed on commodities, though the effect is indirect.
