Palm Oil Advances as Soybeans Jump Most in Six Months on Supply
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Palm oil climbed after soybeans rallied the most in more than six months yesterday on signs that U.S. stockpiles are tightening, increasing concerns that global oilseed supplies may dwindle.
The contract for delivery in March advanced 1.1 percent to 2,398 ringgit ($796) a metric ton, the biggest gain at close since Jan. 2, on the Malaysia Derivatives Exchange in Kuala Lumpur. That helped trim losses to 1.7 percent this month.