Published on 25/06/2019 9:53:16 AM | Source: Reuters

Palm recovers from three sessions of falls on soyoil strength

Posted in Commodity Top News| #Oil and Gas Sector #Palm Oil #Commodity #Malaysia

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KUALA LUMPUR  - Malaysian palm oil futures climbed in early trade on Tuesday, recovering from three straight sessions of falls on the back of a rebound in overnight soyoil prices on the Chicago Board of Trade (CBOT).

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was 0.4% higher at 2,006 ringgit ($484.42) per tonne at 0253 GMT.

CBOT soyoil futures were up 0.4% after two consecutive sessions of losses.

($1 = 4.1410 ringgit)

($1 = 69.2662 Indian rupees)

($1 = 6.8800 Chinese yuan)

(Reporting by Liz Lee; Editing by Subhranshu Sahu)