MDEX: Palm oil falls more than 2% this Wednesday.

The June contract of palm oil closed the session this Wednesday (6) with a significant drop of 2.10% in Malaysian Derivatives Exchange (MDEX)The price for soybeans is quoted at US$1,156.25/ton. The June contract fell 2.00% to US$1,164.50/ton. On the other hand, so far this week, the commodity has accumulated gains of 1.14% and 1.19%, respectively. 

In this trading session, commodity prices were pressured by the significant drop in oil prices, after a source from Pakistan informed Reuters that United States and the Iran They made progress in negotiations for a preliminary peace agreement.

Lower oil prices make palm oil a less attractive option as biodiesel raw material. 

Meanwhile, the European Union imported 2.4 million tons crop year 2025/26 up to May 3rd, a 4% drop compared to the same period of the previous season, according to data from European Commission. 

Furthermore, the Malaysian ringgit It strengthened 1.01% against the dollar, a factor that makes the commodity more expensive for foreign buyers. 

Limiting further losses, palm oil closed 0.37% higher in the market. Dalian Exchange (DCE)Meanwhile, soybean oil advanced 0.78% in the Chinese index. 

This text was translated by machine from Brazilian Portuguese.