Palm oil futures jumped

Malaysian palm oil futures jumped 5% on Wednesday as buyers stocked up ahead of the Muslim holy month of Ramadan and expectations of 2019/2020 production falling also boosted prices. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange closed up 123 ringgit, or 5.17%, to 2,500 ringgit ($598.37), its highest level since February 25. Meanwhile, Dalian's most-active soyaoil contract traded 0.95% higher, while its palm oil contract gained 0.84%. Soyaoil prices on the Chicago Board of Trade were also 2.09% higher.