Palm trades sideways as Dalian soyoil weighs, crude oil supports

KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Monday, as weakness in Dalian soyoil countered stronger crude oil prices.

The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange slid 3 ringgit, or 0.07%, to 4,594 ringgit ($1,162.74) a metric ton in early trade.

The contract rose 0.39% in the previous session.