Login ID:
Password:
Partner Login
Contact Us : 7066511911

BMD Palm Ends Lower On Concerns Over Fundamentals

18 Jul 2019 4:30 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - Malaysian palm oil futures ended lower on Thursday amid concerns over rising production and subdued export demand.

The October benchmark crude palm oil contract on the Bursa Malaysia Derivatives Exchange (BMD), was down Ringgit 4 at 1,984 by the close after moving in the range of Ringgit 1,991 and Ringgit 1,972.

In other related oils, the CBOT soybean oil futures settled lower on Wednesday as forecasts for cooler weather lifted expectations for better crop conditions after this week’s hot spell.

Markets have been falling since Monday’s US Department of Agriculture (USDA) weekly crop progress report, which showed conditions for soy improved from the previous week.

Meanwhile, market participants are awaiting the US export sales report due later today.

Palm oil prices are affected by movements in soyoil, as they compete for a share in the global vegetable oil market.

(By Commoditiescontrol Bureau)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
India 2019-20 Kharif Oilseeds Sowing Status As On Aug 1...
India's July Mustard Crushing Up 16.7% YoY
Argentina And Brazil Soy Oil FOB Rates of Seller And Bu...
Argentina, Brazil And US Soy Meal FOB Rates On August 1...
CBOT Soybeans Close Firm In A Choppy Trade Amid Technic...
more
Top 5 News
Cotton Rules Steady To Firm In Central, South India Ami...
Canada/Ukraine White Pea Settles Weak In Mumbai
Cotton Slightly Up In North On Positive Global Cues
Tur, MP Origin Moong Firm In Delhi; Urad Weakens
India 2019-20 Kharif Oilseeds Sowing Status As On Aug 1...
Top 5 Special Reports
Weekly: Urad/Moong Gain Most This Week; Masoor Slips
Tur Prices May Move Up From Current Level
India's Vegetable Oil Import Up 26% YoY In July At 14.1...
USDA Revises Down 2019-20 Global Cotton Production Esti...
Weekly ICE Sugar: Prices End Down Led By Weaker Crude O...
Copyright © CC Commodity Info Services LLP. All rights reserved.