The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.25% at 2,028 ringgit ($492.59) per tonne at the close of trade in its third straight session of gains. Earlier in the session, it rose as much as 1.3% to 2,030 ringgit, its strongest levels since June 21.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production.
* U.S. wheat futures eased 1.2 percent on Wednesday, setting back on a mild round of profit taking after prices posted their biggest rally since last summer on Tuesday.
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