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Malaysian palm oil futures opened higher on Friday, supported by firmer crude oil prices and rival Dalian oils. Benchmark FCPOc3 for November delivery gained 40… and is on track for a weekly gain after last week’s decline.
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.
Malaysian palm oil futures extend gains near MYR 4,900 per tonne, reaching their highest level since early April, with support from firmer edible oils and crude oil prices.
Malaysian palm oil futures extend gains around MYR 4,725 per tonne and are set for a second straight weekly advance, with export shipment estimates and stronger India import demand cited as support.