Palm oil prices continued their slide for a second day, heading toward the week’s low, as weak demand and rising inventories in Malaysia stir bearish sentiment. 🇲🇾 July exports fell 9.2% compared to June, weighed down by sluggish orders from China, the Middle East, and Europe. However, traders hint that price dips could spark renewed buying interest — especially from India, where the festive season is kicking off with Dussehra, Ganesh Chaturthi, and later Diwali. 🪔
Meanwhile, 🌽 corn and 🌱 soybean futures took a hit after Argentina rolled out fresh export tax cuts. Soybean duties dropped from 33% to 26%, while corn fell from 12% to 9.5%, a move aimed at boosting local sales and farmer confidence. President Javier Milei’s policy may ramp up global competition, especially against US growers. Combine that with strong crop forecasts in the US — and you’ve got prices in Chicago sinking to a two-week low.
🎯 All eyes on how supply gluts and seasonal demand dynamics play out next. Stay tuned.
