Palm opens higher, buoyed by stronger crude, Chicago soyoil

Malaysian palm oil futures rose on Monday, after two sessions of decline, supported by stronger crude oil and Chicago soyoil.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 37 ringgit, or 0.82%, to 4,290 ringgit ($998.37) a metric ton in early trade.

The contract fell 1.3% in two consecutive sessions.

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