Posted 2/26/2024, 3:15:00 AM
Malaysian Palm Oil Prices Search for Direction as Exports Slump and Inflation Concerns Mount
- Malaysian palm oil futures search for direction as weak export data weighs on prices
- Exports fell 10.7% Feb 1-25 compared to Jan 1-25, according to cargo surveyor
- Palm oil prices linked to related oils like soyoil and soybean oil
- Concerns higher inflation could delay U.S. interest rate cuts weighed on oil prices
- Technical analysis shows chance palm oil could break support and fall further