
Malaysian palm oil futures fell 5.82% to 3,205 ringgit per tonne on May 31, 2023, a new low for the year and lowest since November 2020. Malaysia's May exports fell 0.8% from April according to Intertek, while AmSpec reported a 1.8% decline.
Indonesia set its June 1-15 CPO reference price at $811.68 per tonne, lowering its export tax.
Weaker May export data and lower rival oilseed prices add bearish pressure on palm and soy oil, which compete for feed-fat demand. Lower Indonesian export taxes slightly support export flows.
Setelah 158 peristiwa perdagangan bearish sebelumnya, Minyak Sawit bergerak median +0,0% selama 5 sesi (51% lebih tinggi; separuh tengah -1,3% sampai +0,8%), dan -1,4% selama 20 sesi.
Setelah 152 peristiwa perdagangan bearish sebelumnya, Minyak Kedelai bergerak median -0,2% selama 5 sesi (47% lebih tinggi; separuh tengah -2,1% sampai +2,1%), dan -0,1% 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.
Futures fell 5.82% to a multi-year low on May 31 on weaker rival oils and negative May export data, a demand and sentiment shock that is the main driver of the move ending June 1.
Palm futures hit a multi-year low on May 31 as rival oils weakened and May exports fell 0.8-1.8% (demand), directly describing the day's sell-off.