Palm Oil Climbs as Soybean Oil Gains on Chicago Board
Palm oil is higher in Asian trade on stronger soybean oil, according to Market Talk. The January contract on Bursa Malaysia gained 15 ringgit.
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what happened
Palm oil is trading higher in Asian hours, supported by gains in soybean oil on the Chicago Board of Trade, according to Market Talk, citing David Ng of Kuala Lumpur-based Iceberg X.
Traders also expect Malaysian palm oil output to slow seasonally in November, which adds further support to prices.
Ng sees crude palm oil meeting resistance at 4,500 ringgit a ton and finding support at 4,400 ringgit. He says the market will stay sensitive to moves in rival vegetable oils and crude. The January contract on Bursa Malaysia Derivatives is up 15 ringgit at 4,455 ringgit a ton.
why it matters
Vegetable oils tend to move as a group, so a rally in soybean oil quickly feeds into palm oil prices. Market participants also watch seasonal Malaysian production and the link to crude oil, which the analyst highlights.
tags
instruments
sources
- Palm Oil Rises on Stronger Soybean Oil Prices — Market Talk, 13 November 2026 at 02:56 UTC
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