Palm Oil Jumps to Five-Week High as Soybeans Rally on Weather
This article is for subscribers only.
Palm oil climbed to a five-week high as soybeans rallied on concern that dry weather in the U.S. may hurt crops in the largest grower of the oilseed crushed to make an alternative oil.
The contract for November delivery gained 1 percent to 2,333 ringgit ($712) a metric ton on the Bursa Malaysia Derivatives, the highest price at close for the most-active contract since July 11. Palm for physical delivery in September was at 2,400 ringgit, according to data compiled by Bloomberg.