Malaysian palm oil outlook: Palm oil futures expected to open higher

According to foreign media reports, crude palm oil futures on the Malaysian Derivatives Exchange (BMD) may rise at the opening on Friday morning, as external vegetable oils climbed and international crude oil rose strongly.

The weather in the Midwest of the United States has become dry, threatening the early growth of soybean crops. The U.S. debt ceiling bill was passed in the House of Representatives, which boosted soybean and soybean oil futures. Early performance.

However, Malaysia’s palm oil production tends to increase and demand slows down, which will continue to limit the upward momentum of the broader market.