Markets
Palm rises on stronger crude oil, Dalian soyoil
- Palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 21 ringgit, or 0.45%, to 4,722 ringgit a metric ton
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Malaysian palm oil futures opened higher on Wednesday, supported by stronger crude oil and Dalian soyoil prices, despite some offsetting factors.
Read the full article for:
- Factors influencing palm oil price movements.
- Specific contract details and price changes.
- Impact of related commodity markets.
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KUALA LUMPUR: Malaysian palm oil futures opened higher on Wednesday after falling for two straight sessions, as stronger crude oil prices and firmer Dalian soyoil supported the market, though weaker palm olein and Chicago soyoil capped the gains.
The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 21 ringgit, or 0.45%, to 4,722 ringgit ($1,155.37) a metric ton in early trade.