Palm oil closes Tuesday with a slight increase on MDEX.

The June contract of palm oil closed the session this Tuesday (26) in stability with an upward bias (+0.07%) in Malaysian Derivatives Exchange (MDEX)The price of crude oil rose 0.11% to US$1,116.50/ton. The July contract advanced 0.11% to US$1,126.00/ton. In this trading session, commodity prices were supported by strong gains in crude oil, the weakening of the Malaysian ringgit against the dollar, and weaker production projections from Malaysia. However, further gains were limited by the fall in rival edible oils in Dalian and by market estimates of a drop in Malaysian exports this May.

This text was translated by machine from Brazilian Portuguese.