Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Mon Dec 16, 2013 06:52 AM CST

Weakness in the vegetable oil and oilseed markets was not limited to canola last week. The most active February crude palm oil contract in Malaysia pushed through support of the contract's 20-day moving average in Thursday's trade, while gapping lower in Friday's trade to close sharply lower at 2,562 ringgits/mt. Over the course of the week, the February contract closed 108 ringgits lower, for a loss of 4%. Market watchers will be looking for signals from the upcoming December export data for palm oil, while perhaps expecting the worst due to a declining discount relative to soybean oil. The palm ...

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