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Malaysian palm oil futures rose more than 1% on Friday on bargain buying and gains in Dalian palm olein and Chicago soyoil, though the benchmark was still set for a first weekly loss in four weeks. The January contract gained 53 ringgit to 4,669 ringgit a ton by midday.
Firmer rival edible oil prices support palm oil, but the weekly decline of about 3.9% shows underlying pressure from ample supply and stocks.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.