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
European rapeseed prices rise amid limited Black Sea supply
Ukraine plans to develop private fleet to support agricultural exports
Biofuel demand drives higher US soybean oil imports
UK processors terminate contracts with pig producers on a large scale
Chicago corn continues to decline after hitting a three-year high
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon