Palm oil in tight range after steepest decline since May 2023
Malaysian palm oil futures traded in a tight range early on Wednesday, after they fell nearly 4% in the previous session, underpinned by the recovery in Chicago soyoil.
The benchmark palm oil contract FCPOc3 for August delivery on the Bursa Malaysia Derivatives Exchange rose 0.18% to 3,928 ringgit ($836.46) per metric ton as of 0238 GMT.
The contract was traded between 3,899 ringgit and 3,942 ringgit in early trade.
The contract lost 3.83% in the previous session, its steepest daily decline since May 31, 2023.
Read also
Poor soybean harvest to push India to increase soybean oil imports — USDA
Black Sea export disruptions return Australia to the centre of the global wheat ma...
Bunge sunflower oil facility suspends operations after Russian attack
Expana raises EU wheat export forecast as Black Sea shipments decline
Ukraine expands alternative rail routes to the EU
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon