Palm subdued as strong crude oil, Chicago soyoil counter weak Dalian
Malaysian palm oil futures traded in a tight range on Monday, as support from stronger Chicago soyoil and crude oil prices countered weaker rival Dalian oils amid an escalating conflict in the Middle East.
The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange rose 3 ringgit, or 0.07%, to 4,121 ringgit ($963.53) a metric ton in early trade.
The contract rose in the last three consecutive sessions.
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