Palm ends lower for third session despite strong export demand
Bullish strength: 35/100
- Malaysian palm oil exports for October 1–25 were estimated to rise 46.9%–67.7% month over month.
- Upcoming Diwali-season buying in India is supporting export demand.
- Crude oil prices rose over 1%, potentially improving palm oil's attractiveness as biodiesel feedstock.
Bearish strength: 65/100
- Palm oil futures fell 0.3%, marking a third consecutive daily loss.
- The Malaysian ringgit strengthened 0.32% against the dollar, making palm oil more expensive for foreign-currency buyers.
- European Union palm oil imports fell 21% year over year to 0.8 million metric tons.
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