Image: Pixabay
The August and September palm oil contracts on the Malaysian Derivatives Exchange (MDEX) ended this Wednesday's session (26) slightly down 1.25 points and 0.14%, at US$ 876.00/tonne and US$ 887.00/ton respectively.
The market continued in a technical profit-taking movement, given the significant gains of more than 2% on Monday (24) due to the suspension of the Black Sea grain agreement.
{module Form RD}
In Russia, the export tax on sunflower oil will remain zero for the third consecutive month.
Furthermore, investors await the interest rate decision in the United States and the euro zone. This afternoon, at 3 pm, the Federal Open Market Committee (Fomc) of the Federal Reserve (Fed, the US central bank) is expected to announce an increase of 0.25 percentage points in the North American country's rate, to the level of 5.251 TP3T to 5.50%.
Source: datagro
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