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Malaysian palm oil futures for August delivery fell 2.13% to 4,041 ringgit a tonne, after dropping as much as 5% intraday. Traders expected May stockpiles and output to rise, with a Reuters survey pointing to an eight-month high in end-May stocks.
Market talk of an Indonesian export levy cut also weighed, though authorities said no decision had been made.
Higher expected output and stockpiles add supply pressure, and a possible Indonesian levy cut would lift export flows and could add to downward pressure. Traders are awaiting the MPOB data.
brecorder.comReuters8 giu 2021Dopo 400 eventi politica ribassista passati, Olio di palma si è mosso in mediana di -0,0% in 5 sedute (49% in rialzo; metà centrale da -1,3% a +1,1%), e di +0,2% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
On June 8 palm fell on expectations of higher May output and stocks and on talk of an Indonesian levy cut, bearish supply-side factors early in the window.
On June 8 palm fell 2.1% on expectations of higher May output and stocks plus talk of an Indonesian levy cut, adding supply-side pressure within the window.
