Malaysian palm edges up on stronger soyoil

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last up 0.3% at 2,187 ringgit ($521.96) per tonne at the close of trade. It earlier rose as much as 1.7% to an intraday top of 2,217 ringgit.

KUALA LUMPUR: Malaysian palm oil futures rose over 1% on Wednesday before paring some gains, lifted by higher overnight prices of soyoil on the Chicago Board of Trade (CBOT) and a technical correction.

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was last up 0.3% at 2,187 ringgit ($521.96) per tonne at the close of trade.