JAKARTA: Malaysian palm oil futures plunged for a third straight session on Wednesday and hit their lowest in nearly a month.

The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 3.03% to 3,289 ringgit ($744.08) per tonne in morning trade.

Palm logs worst day in two weeks as rival oils drop, supply rises

The contract looked set to book a third monthly drop after extending losses from its worst day in two weeks on weaker rival edible oil prices and expectations of rising output in May.