Malaysian palm oil futures stretched their losing streak into a third day on Tuesday, hitting their lowest in more than four months as a firm ringgit prompted some investors to liquidate positions, although positive export data checked losses. Soybean futures fell on Tuesday in a profit-taking setback after hitting a 2-1/2 week high and as farmers were expected to accelerate spring planting under mild and mostly dry weather across the Midwest farm belt. Brent rose modestly on Tuesday supported by instability in Libya, pulling U.S. oil for July delivery higher in spite of expectations for an increase in domestic stockpiles.
Posted on: Wed, 21 May 2014 06:58:42 +0000
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