Malaysian palm oil

Palm edges up, tracking rival oils as Argentine exports slow
Markets

Palm edges up, tracking rival oils as Argentine exports slow

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 34 ringgit, or 1%, to 3,569 ringgit ($879.28) a tonne.
  • CBOT soyoil climbed 1.3%, while soy and palm oils on the Dalian Commodity Exchange rose 3.5% and 5.2%, respectively.
Published 24 Dec, 2020 05:59pm
Palm jumps over 3pc as US soyoil rallies on Argentina strikes
Markets

Palm jumps over 3pc as US soyoil rallies on Argentina strikes

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 3.6% higher, or 8 ringgit, at 3,536 ringgit ($870.72).
  • Palm tracked higher prices of soyoil on the CBOT, up 2.2%, as Argentine soymeal exports stalled due to labour strikes.
Published 23 Dec, 2020 06:27pm
Palm rebounds on likely higher China imports, biodiesel hopes
Markets

Palm rebounds on likely higher China imports, biodiesel hopes

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 10 ringgit, or 0.3%, to 3,416 ringgit ($841.59), after closing 1.1% lower on Monday.
  • Supporting prices was a potential rise in palm oil imports by China next year to 6.4 million tonnes from 6.2 million tonnes in 2020.
Published 22 Dec, 2020 06:07pm
Palm oil may retest resistance at 3,474 ringgit
Markets

Palm oil may retest resistance at 3,474 ringgit

  • This move suggests that the bulls have not given up breaking 3,411 ringgit. Indeed, this resistance looks vulnerable under the third attacks by bulls. It may be broken on either Friday or next Monday.
Published 11 Dec, 2020 09:04am