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Last week, Malaysian crude palm oil futures fell continuously due to concerns about the growth of Malaysian production and the extension of the Black Sea grain transportation agreement. Subsequently, short covering and continued weakness in the exchange rate supported a rebound. Dragged down by the continuous decline of Malaysian palm oil and soybean oil breaking new lows, crude palm oil futures also fell and hit new lows. However, the overall market decline was too large, and the rebound in Malaysian palm oil prices stopped the decline and led to signs of a rebound in crude palm oil futures. The spot price was also weak at first and then strong, overall inferior to the previous week.
