Palm firms but weaker crude, rival oils cap gain
BEIJING: Malaysian palm oil futures rebounded modestly on Monday, recovering from previous losses in range-trading. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange rose by 12 ringgit, or 0.31%, to 3,912 ringgit ($830.57) per ton by 0320 GMT. This follows a decline of 1.49% on Friday, with the contract ending the week down 1.17%. Persistent weakness in crude oil and competing edible oils tempered broader gains.
BEIJING: Malaysian palm oil futures ticked up on Monday in range-trading after previous session’s sharp losses, but persistent weakness in crude and rival edible oils capped the gains.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 12 ringgit, or 0.31%, to 3,912 ringgit ($830.57) a ton by 0320 GMT, after falling 1.49% on Friday. The contract was down 1.17% last week.
Source Link : https://www.brecorder.com/news/amp/40309576
