Advertisements

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

by Joy

On Wednesday morning, June 7, crude palm oil futures on the Bursa Malaysia Derivatives Exchange may open higher, following the surge in Chicago soybean oil futures.

A surge in U.S. soyoil futures will boost early performance in Malaysian crude palm oil futures. However, the fundamentals of the palm oil market are bearish, which will suppress the upward momentum of the broader market.

Advertisements

Data from the shipping survey agency showed that Malaysia’s palm oil exports fell by 0.8% to 1.8% in May from the previous month.

Advertisements

India’s palm oil imports fell to a 27-month low in May as palm oil prices became less attractive.

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News