Login ID:
Partner Login
Contact Us : 7066511911

BMD Palm Snaps 2-Day Losing Steak, Ends Nearly 1% Higher

19 Nov 2019 5:06 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - Malaysian palm oil futures ended higher on Tuesday, snapping their 2-day losing streak, tracking gains in US soyoil and on a weaker Ringgit.

A weaker Ringgit makes palm oil cheaper for holders of foreign currencies.

The February benchmark crude palm oil contract on the Bursa Malaysia Derivatives Exchange (BMD), was up Ringgit 25 or 0.96 percent at Ringgit 2,622 per tonne by the close after moving in the range of Ringgit 2,635 and Ringgit 2,603 a tonne.

In other related oils, US January soyoil futures on the Chicago Board of Trade (CBOT) were last up 0.65 percent in electronic trade on Tuesday. The US Department of Agriculture (USDA) said the US soybean harvest was 91 percent complete. While the five-year average pace of soybean harvest stands at at 95 percent.

Palm is affected by price movements in related oils as they compete for share in the global vegetable oils market.

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

   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 2020-21 Kharif Oilseed Sowing Up As On July 03,20...
BMD CPO Pares Early Gains Tracking Fall in Crude Oil
Emami’s Edible Oil Sales Drop 10% During Lockdown
Centre Writes to States Regarding Ban on Sale of Adulte...
Soy Complex – Soybeans (CBT) – May Consolidate Near Ran...
Top 5 News
Moong Widen Losses At Selective Mkts; Sowing Up 199.36 ...
Chana Declines At Selective Spot Markets As Govt Offloa...
Domestic Tur Dips In Selective Mkts; Sowing Up 494%
Madhya Pradesh Sugar Mill Prices – 03 JULY 2020
Haryana Mill Prices – 03 JULY 2020
Top 5 Special Reports
USD/INR (Jul ‘20) – Bearish Breakout from a Descending ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
USD/INR (Jul ‘20) – Distributional Chart Pattern / Top ...
Charts Indicate Declining Refining Margins in White Su...
Copyright © CC Commodity Info Services LLP. All rights reserved.