Weak Ringgit supports courses of palm oil futures

The courses of palm oil futures rose today in the morning trade at the Bursa Malaysia. It is already the third of four sessions in which the price is rising. A weak ringgit and stable crude oil prices support the forward market rates.
The most-traded October 18 appointment rose by 0.3% at lunch break to 2,192 ringgit / ton. So far, only 8,548 lots a'25 tons have been traded today.
The price increase is likely to remain limited as production will soon rise in line with the season. In addition, the export prices are dependent on the exchange rate of the ringgit. Currently, the currency is weakening against the US dollar.
On the CBoT, the soybean oil futures are unchanged at the hour, while in the Chinese Dalian, the soybean oil price rises by 0.9% and the palm oil price by 0.4%.
Text: HANSA Derivatives Trading GmbH /

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