Weather Concern In Indonesia May Limit Price DeclineMalaysia's palm oil exports fell 16% during the Aug. 1-15 period to 592,094 tons compared with the same period in July, cargo surveyor SGS (Malaysia) Bhd. said. Another surveyor, Intertek Agri Services, said exports during the period fell 7.4% on month to 619,435 tons.
Crude palm oil futures on Malaysia’s derivatives exchange fell Wednesday, dragged lower by declines in CBOT soyoil. The benchmark November contract on the Bursa Malaysia Derivatives exchange ended MYR36 lower at MYR2,610 a metric ton after sliding to a 1 1/2-week low of MYR2,592. Disruptive rainfall in Indonesia may limit the slide in prices. Open interest on the BMD was 65,245 lots, versus 65,056 lots Tuesday. One lot is equivalent to 25 tons. A total of 28,150 lots of CPO were traded versus 21,590 lots Tuesday.
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