September's contract palm oil closed the session this Thursday (6) with a slight decrease of 0.37% in Malaysian Derivatives Exchange (MDEX)The price for the October contract fell 0.26% to US$1,145.75/ton. On the other hand, so far this week, the contracts have accumulated gains of 0.24% and 0.73%, respectively.
In this trading session, prices were pressured by the fall in international oil prices, amid progress in the agreement between Iran and Oman regarding control of the Strait of Hormuz.
Lower fuel prices on the international market make palm oil a less attractive option as a feedstock for biodiesel.
Limiting further losses, palm oil closed 0.35% higher in the market. Dalian Exchange (DCE)Meanwhile, soybean oil advanced 0.29% in the Chinese index.
On the radar, the Advice Malaysian Palm Oil (MPOB) The official data must be released on August 10th.
This text was translated by machine from Brazilian Portuguese.