Malaysian Palm Oil Futures May Open Lower Friday, Inventories at 2.428M Tons Above Forecast

According to Jin10 Futures, Malaysia's crude palm oil futures on the Bursa Malaysia Derivatives exchange may open lower on Friday (June 12), tracking declines in crude oil and soybean oil futures. U.S. crude fell after Trump announced the cancellation of plans against Iran on Thursday.

Malaysia's palm oil inventories reached 2.428 million tons at the end of May, up 5.15% month-over-month and exceeding analyst expectations of 2.36 million tons, according to data from Malaysia's Palm Oil Board (MPOB). However, El Niño weather patterns may bring drier-than-normal conditions to Southeast Asia, potentially supporting prices.