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(Update with midday break prices, add analyst's comment) JAKARTA, Oct 16 (Reuters) — Malaysian palm oil futures rose on Friday, supported by bargain buying and strong export demand, after cargo surveyors reported higher shipments in the first half of October, putting the market on track for a second consecutive weekly
Malaysian palm oil futures rose Friday as bargain buying and strong export demand supported prices. Higher first-half October shipments put the market on track for a second consecutive weekly gain.
Malaysian palm oil futures climbed above MYR 4,850 per tonne, helped by a weaker ringgit and firmer Dalian edible oils. Bargain buying followed a one-week low, but gains were capped by softer Chicago soybean oil and retreating crude.