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
Shipping halt causes congestion at Russia’s Azov ports
Rumours emerge about possible Russian shipping restrictions in the Sea of Azov
Ukraine’s strikes on Russian vessels in the Sea of Azov lifted wheat prices ...
Spanish producers call for a halt to Brazilian beef imports
Egypt expands powers of agency responsible for wheat imports
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon