Palm oil rebounds to track stronger rivals; eyes weekly loss

Malaysian palm oil futures rebounded on Friday after declining for two sessions, tracking gains in rivals soyoil and crude oil, but the market is poised for a weekly loss.

The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange rose 21 ringgit, or 0.54% to 3,895 ringgit ($815.71) a metric ton as of 0245 GMT.

It fell 0.62% during overnight trade. The contract is down about 0.8% for the week.

Tags: soyoil, palm oil, futures, Market, benchmark contract, Malaysia