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Malaysian palm oil futures fell 4.2% to 4,703 ringgit a tonne on recession fears that hit edible oils, after an intraday drop of about 7%. Malaysia's June exports fell between 7.4% and 13.4% from May as shipments to India and the EU slowed.
Palm later recovered some losses when crude oil rose on supply outages in Libya and Norway.
Recession fears reduce demand for edible oils and biodiesel, while weaker Malaysian exports add to the supply overhang. Stronger crude oil could support palm by making it more competitive as biodiesel feedstock.
brecorder.comReuters1 de jul. de 2022Após 51 eventos baixista de macro passados, Óleo de palma subiu em mediana -1,3% em 5 sessões (35% de alta; metade central de -4,1% a +1,1%), e -1,8% em 20.
Após 40 eventos baixista de macro passados, Óleo de soja subiu em mediana -0,8% em 5 sessões (45% de alta; metade central de -4,5% a +1,7%), e -1,5% em 20.
Após 487 eventos altista de macro passados, Petróleo (WTI) subiu em mediana +1,0% em 5 sessões (60% de alta; metade central de -2,0% a +4,0%), e +1,5% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
4% drop on July 1 on recession fears and a higher supply outlook, with weaker June exports to India and the EU.
Recession fears hit edible oils with an intraday drop of ~7%, alongside weaker June Malaysian exports and a higher supply outlook, matching the window's sharp selloff.
July 1 recession fears and a higher supply outlook hit edible oils, setting up the weak sentiment that carried into the July 4 soyoil drop.
Recession fears and weaker June Malaysian exports hit edible oils just before the move, adding demand-side and sentiment pressure.
