MDEX: Palm oil closes moderately higher on Monday.

The August contract of palm oil closed the session this Monday (20) with a moderate increase of 0.74% in Malaysian Derivatives Exchange (MDEX), quoted at US$ 1,117.00/ton. The September contract advanced 0.83%, to US$ 1,126.75/ton. 

In this trading session, commodity prices were boosted by positive palm oil yields. Dalian Exchange (DCE), which registered a 1.56% increase, while soybean oil advanced 0.58% in the Chinese index.

Limiting further gains, prices were affected by the decline in oil prices on the international market, following reports that the Iranian Foreign Ministry is interested in negotiating with the United States. 

Lower fuel prices make palm oil a less attractive option as a feedstock for biodiesel.

Furthermore, exports of palm oil derivatives from Malaysia fell 0.9% during the period from July 1st to 20th, as projected by AmSpec Agri. 

This text was translated by machine from Brazilian Portuguese.