The palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange surged 2.4 percent to 2,608 ringgit ($638) per tonne at the end of the trading day. It earlier reached a new three-week and intraday high of 2,612 ringgit. Traded volume stood at 48,005 lots of 25 tonnes each on Friday.
* Malaysian palm oil futures fell to a seven-month low on Wednesday, dragged down by poor fundamentals and a stronger ringgit.
* U.S. wheat futures fell on Wednesday, extending their decline under pressure from the ongoing harvest of a bountiful crop in the Plains and the Midwest which threatens to add to a glut of supplies that is largely being shunned by overseas buyers.
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