Palm oil strengthened in Malaysia on Friday snapping three weeks of declines, buoyed by firmer crude oil prices, buyers stocking up ahead of the Muslim fasting month and a week of extreme heat that suggested an El Nino weather pattern may be on the way. U.S. soybean futures rose on Friday in a short-covering and technical-buying rebound a day after a steep drop to a 2-1/2 month low. Crude oil prices rose to new nine-month highs on Friday as concerns persisted that an insurgency in Iraq could disrupt oil exports from the second-largest OPEC producer.
Posted on: Mon, 16 Jun 2014 06:55:57 +0000