Palm oil gains despite weakening of rival oils and profit-taking
Malaysian palm futures ended lower on Friday due to profit booking and weaker edible oils in Chicago and Dalian. However, the contract managed to record its seventh weekly increase in eight weeks. At the close, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery fell 29 ringgit or 0.71% to 4,062 Ringgit ($963.02), a metric tonne. The contract increased by 1.27% in the past week. David Ng said that the prices of crude palm oil were lower due to a decline in prices for soybean oil and Dalian Palm Olein. He is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn Bhd.
Palm oil falls due to weakness in competing oils and profit taking
Malaysian palm futures declined on Friday due to profit booking and weaker edible oils on the Chicago and Dalian market. However, they remain on track for their seventh weekly gain in the last eight. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for September delivery fell 22 ringgit (or 0.54%) to 4,069 Ringgit ($963.08 a metric tonne). The contract is up 1.67% this week. David Ng said that the prices of crude palm oil were lower due to overnight declines in prices for soybean oil and Dalian Palm Olein. He is a proprietary trader with Kuala Lumpur based trading firm Iceberg X Sdn Bhd.
Palm oil trades in a sideways fashion as Dalian oils and Chicago soyoil counter each other.
Malaysian palm futures were in a narrow range on Thursday as the strength of rival Dalian oils supported gains, while the weakness of crude oil and Chicago soybean oil limited them. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 12 ringgit (0.3%), to 4,074 Ringgit ($965.17) per metric ton. On Wednesday, the contract increased by 2.37%. Anilkumar bagani, research director at Mumbai-based Sunvin Group, said that the crude palm oil futures market was trading sideways, as the bullish momentum of Chinese vegetable oils in Asian hours supported it.
Palm slips due to weak crude and soyoil, lack of fundamentals
The price of Malaysian palm oil futures fell for the second consecutive session on Tuesday. This was due to the weakness in soyoil prices at the Dalian and Chicago exchanges and the lack of any fundamental triggers. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange lost 16 ringgit or 0.4% to $3,970 ringgit (US$946.14) per metric ton. "Market sentiment is cautious due to macro-uncertainties, and we are awaiting more clear fundamental signals," said Darren Lim. He is a commodities strategist with Singapore-based Phillip Nova.
Palm oil falls due to weak competition and lack of fundamentals
The Malaysian palm futures continued to fall for the second consecutive session on Tuesday. This was due to the weakness of rival oils on the Dalian and Chicago market and the softer crude prices as a result of a lack fundamental triggers. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery had fallen 29 ringgit or 0.73% to 3,957 Ringgit ($944.62) per metric ton. "Market sentiment is cautious due to macro-uncertainties, and we are awaiting more clear fundamental signals," said Darren Lim. He is a commodities strategist with Singapore-based Phillip Nova.
Palm oil and crude Dalian slips due to weak Dalian palm oil
Malaysian palm futures fell on Monday, erasing gains from the previous session, as Dalian palm oil and crude prices declined. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery had fallen 44 ringgit or 1.1% to $3,967 ringgit (USD $941.39) per metric ton. Dalian's palm oil contract, which is the most active contract in Dalian, dropped by 0.69%. Chicago Board of Trade Soyoil Prices rose by 0.42%. As palm oil competes to gain a share in the global vegetable oil market, it tracks the price fluctuations of competing edible oils.
Palm prices rise on strong demand and lower production but the sixth weekly gain is halted.
Malaysian palm futures have ended six weeks of gains, with a weekly drop. This is despite the fact that they closed higher on Thursday due to expectations of lower production and strong demand coming from key destinations. At the close, the benchmark contract for palm oil delivery in September on Bursa Derivatives Exchange rose 47 ringgit or 1.19% to 4,012 Ringgit ($949.36). This week, the contract dropped 2.57%. Bursa Derivatives Malaysia Exchange will be closed Friday due to a public holiday. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd.
Palm prices rise on expectation of lower production and strong demand
The price of Malaysian palm oils futures rose slightly on Thursday as the market grew stronger due to lower production and demand from major destinations. At the midday break, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 18 ringgit (0.45%) to $3,983 ringgit (USD $943.39) a metric tonne. The contract dropped 3.9% over the last two sessions. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd. He said that crude palm oil futures were higher due to the expectation of continued growth in production and exports over the next few weeks.
Palm oil prices fall as Middle East tensions weigh
The price of Malaysian palm oils futures fell on Wednesday, reversing earlier gains as the market was weighed down by uncertainty about the developments in the Israel/Iran conflict. However, strong export data helped to limit the losses. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for September delivery was down 20 Ringgit or 0.5% at $3963 Ringgit ($935.77) per metric ton. Exports of palm oil products from Malaysia for the period June 1-25 increased between 6.6% to 6.8% compared to the same period one month earlier. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari.
Palm prices rise on the back of exports but Middle East unrest caps gains
The price of Malaysian palm oils futures increased slightly on Wednesday. This was a slight recovery from the previous session. Expectations of strong export numbers supported the market while uncertainty about the Middle East conflict limited the gains. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery gained 12 ringgit (0.3%), to $3,995 ringgit (USD $943.11) per metric ton. The market was jittery because of uncertainty about the Middle East conflict. Paramalingam Supramaniam is the director at Selangor brokerage Pelindung Bestari. Later in the day, export estimates for Malaysian palm oils products are expected.
The fragile Middle East truce has knocked down the prices of crops that are tied to oil.
The price of crops around the globe has been impacted by a shaky truce between Iran and Israel, especially those that can be converted into biofuels. Prices are affected by the price for crude oil. The price of crude oil dropped sharply after President Trump announced a ceasefire. This hit futures contracts and stocks for vegetable oils like Malaysian palm, European rapeseed and Chicago soyoil. John Duvenaud, Winnipeg, Canada's crop markets analyst, said that the fall in vegetable oil prices was "totally connected" to the collapse of crude oil futures on Monday and Tuesday. Crude oil futures fell over 13% at midday on Tuesday.
North Dakota drilling and fracking activity stable as prices fluctuate, state regulator states
In a Tuesday monthly briefing, the state regulator revealed that despite recent volatility in oil prices, the number of frac crews and rigs in North Dakota remained unchanged in June. There are 32 rigs and 13 frac crews currently operating in North Dakota. Baker Hughes, an energy services company, said that the U.S. energy companies last week reduced oil and natural-gas rigs by eight for the week, the first drop since September 2023. North Dakota is third in the nation for oil production. The state Industrial Commission reported that its oil production fell by 22,000 barrels per day (bpd) in April to 1,172,000 BPD. Volatility is difficult for companies to plan.
Palm oil prices fall sharply on the back of weaker rival oils and crude prices
The price of palm oil in Malaysia fell more than 3% Tuesday, ending a four-day rise, due to the weaker Chicago soyoil prices and crude oil after the ceasefire agreement between Israel and Iran. The benchmark contract for palm oil delivery in September on Bursa Derivatives Malaysia Exchange fell 140 ringgit or 3.39% to 3,986 Ringgit ($940.09) per metric ton, its largest daily drop since April 4. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd. He said that the prices of crude palm oil fell due to the weakness in the Chicago crude oil and soybean oil markets, as well as the easing Middle East tensions.
Palm oil falls by over 3% due to weak Chicago soyoil and crude oil prices
After U.S. president Donald Trump announced the ceasefire agreement between Israel and Iran, Malaysian palm futures dropped more than 3%, ending a four-day rally. They were pressured by lower rival Chicago soyoil prices and crude oil, as well as the weaker Chicago oil and soyoil. At the midday break on the Bursa Derivatives Exchange, the benchmark palm oil contract, for September delivery, lost 126 Ringgit or 3.05% to 4,000 Ringgit ($940.73) per metric ton, its largest daily loss since April 7. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd.
Palm prices rise for the fourth consecutive session as crude oil remains firm and the ringgit is soft.
Malaysian palm futures closed higher on Monday after reversing losses earlier in the day. Stronger crude oil prices, a weaker ringgit and Dalian oil's weakness capped the gains. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange gained 7 ringgit or 0.17% to 4,125 Ringgit ($961.09) per metric ton. The contract has been rising for four consecutive sessions. A Kuala Lumpur-based dealer said that higher crude oil prices in the Asian hours had limited the drop on palm prices, despite a weaker Dalian palmolein. The weaker ringgit has also supported the market, the trader said.
VEGOILS-Weak Dalian drags palm lower, firm crude, soft ringgit cushion fall
Malaysian palm futures fell on Monday as Dalian oil, a rival oil company, was weaker. Crude oil prices were also higher and the ringgit was weaker. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for September delivery fell 12 ringgit or 0.29% to 4,106 Ringgit ($959.79). The contract increased in three successive sessions. A Kuala Lumpur-based dealer said that higher crude oil prices in the Asian hours had limited the drop on palm prices, despite a weaker Dalian palmolein. The weaker ringgit has also supported the market, the trader said. Dalian's palm oil contract, which is the most active contract, fell by 0.87%.
The US rushes to lock in the soaring price of oil as US producers rush for new records
The surprise attack by Israel on Iran last weekend sent oil prices surging, which caused U.S. producers to scramble to lock in this price increase. This led them into record volumes of hedging that will shield them from future swings. West Texas Intermediate crude oil futures have continued to rise this week and closed on Friday around $75 per barrel. U.S. producers were prompted to lock in additional price increases through 2026 after already driving hedging activity to a new record last Friday. Aegis Hedging - which, according to its own estimates, handles the hedging of roughly 25-30% U.S.
Palm oil prices flatten as Dalian oils outperform weak demand
The price of Malaysian palm oils futures was largely unchanged on Thursday, as Dalian Oils, a stronger competitor, supported the market. However, weak demand, particularly from India, offset the gains. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange rose by 2 ringgit or 0.05% to 4,102 Ringgit ($963.59) per metric ton. Anilkumar bagani, research director at Mumbai-based vegetable oils broker Sunvin Group, stated that the market was trading in a sideways direction following an upward trend seen in Chinese soybean oil futures during Asian hours and a persistent bullish tendency in ultra-low-sulfur diesel (ULSD futures).
Palm oil prices flatten as Dalian oils outperform weak demand
Malaysian palm futures were mostly flat on Thursday, as Dalian oils, a stronger competitor, countered the weak demand in key markets such as India. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for September delivery fell by 4 ringgit or 0.1% to 4,096 Ringgit ($962.41) per metric ton. Anilkumar bagani, research director at Mumbai-based vegetable oils broker Sunvin Group, stated that the market was trading in a sideways direction following the upward momentum in Chinese vegetable oil in Asian hours, and the persistent bullish trends in ultra-low-sulfur diesel (ULSD).
Palm oil prices rise in tandem with soyoil and a weaker Ringgit
The price of palm oil in Malaysia closed higher on the Dalian and Chicago exchanges, as well as a weaker currency. The benchmark palm-oil contract for September delivery at Bursa Malaysia's Derivatives exchange gained 37 ringgit or 0.91% to 4,101 Ringgit ($965.40), a metric tonne, at the close. Kuala Lumpur based trader stated that the market was in range bound mode but with a bias towards the positive due to the strength of rival oils and ringgit’s weakness. Chicago Board of Trade Soyoil was up by 0.2%. Dalian's palm oil contract and most active soyoil contract both rose in value.
