Malaysian palm oil price higher tracking gains in soyoil

Malaysian palm oil futures rose on Tuesday evening, lifted by strength in rival edible oils and as demand expectations improved, traders said.

KUALA LUMPUR: Malaysian palm oil futures ended higher on Wednesday, buoyed by gains in soyoil on the U.S. Chicago Board of Trade after President Donald Trump said China was back in the market buying U.S. beans.

Trump said on Tuesday that China was buying a "tremendous amount" of U.S. soybeans and that trade talks with Beijing were already underway by telephone, with more meetings likely among U.S. and Chinese officials.