Palm oil futures edge up ahead of Trump-Xi meeting, capped by stock concerns
Malaysian palm oil futures edged higher on Tuesday, with December delivery up 0.43% to 4,878 ringgit/ton. Markets awaited the meeting between US President Donald Trump and Chinese President Xi Jinping, which provides support to agricultural markets. However, rising Malaysian stocks and subdued demand capped gains. Dalian soyoil futures rose, while Dalian palm oil and CBOT soyoil saw smaller gains. Exports of Malaysian palm oil products for Sept 1-20 fell between 12.8% and 24.7% from a month earlier.
(Update with midday prices, adds trader's comment) KUALA LUMPUR, Sept 22 (Reuters) — Malaysian palm oil futures edged higher on Tuesday, as markets awaited the upcoming meeting between the presidents of the US and China, even as traders expected stocks to rise amid subdued demand. 64) a metric ton by the midday break. US President Donald Trump and Chinese President Xi Jinping's meeting this week is providing support to the broader agricultural complex, particularly soyoil, said Sandeep Singh, director of Kuala Lumpur-based consulting and trading firm The Farm Trade. El Niño-linked risks will remain a major concern through the middle of next year, he added.
"However, Malaysia's ending stocks are expected to exceed 3 million tons and could potentially approach record highs," he said, adding that demand remained subdued and spot availability continued to weigh on prices. 2%. 13%. Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
7% from a month earlier. Oil prices gained for the first time in five sessions as investors awaited developments on potential US-Iran talks at the United Nations General Assembly this week after more supplies emerged through the Strait of Hormuz over the weekend. O/R Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Crude palm oil prices are expected to remain above $1,154 per metric ton in October and through the rest of the year, underpinned by weather uncertainties and favourable energy markets, the Malaysian Palm Oil Council said.
com;)