Palm Oil Climbs on Speculation U.S. Soybean Crop May Be Reduced
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Palm oil gained for the first time in four days before a government report that may show the U.S. soybean crop will be smaller than forecast after dry weather hurt yields, reducing global oilseed supplies.
Palm for November delivery advanced 0.5 percent to close at 2,344 ringgit ($716) a metric ton on the Bursa Malaysia Derivatives. Palm oil for physical delivery in September was at 2,375 ringgit, data compiled by Bloomberg show.