KUALA LUMPUR, Oct 14 (Reuters) – Malaysian palm oil futures opened higher on Tuesday after two straight sessions of falls, buoyed by gains in Dalian palm olein and crude oil prices. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange rose 18 ringgit, or 0.4%, to 4,517 ringgit ($1,069.37) a metric ton in early trade. FUNDAMENTALS * Dalian's most-active soyoil contract fell 0.05%, while its palm oil contract climbed 0.34%. Soyoil prices on the Chicago Board of Trade were down 0.1%. * Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. * Brent crude futures for December were up 0.24% at $63.47 a barrel, as of 0240 GMT. * Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. * The ringgit, palm's currency of trade, strengthened 0.02% against the dollar, making the commodity slightly expensive for buyers holding foreign currencies. * Brazil's soybean planting for the 2025/26 season had reached 14% of the expected area by Thursday, marking the third-fastest progress for the date in the world's largest producer and exporter, agribusiness consultancy AgRural said. * Palm oil may test resistance at 4,554 ringgit per ton, a break above which could lead to a gain to 4,619 ringgit, Reuters technical analyst Wang Tao said. MARKET NEWS * Asian stocks made a tentative rebound in early trade, with an uneven recovery taking place across regional equity markets after signs that trade negotiations between the U.S. and China remain on track. DATA/EVENTS 0600 Germany HICP Final YY Sep 0600 UK Claimant Count Unem Chng Sep 0600 UK ILO Unemployment Rate Aug 0600 UK HMRC Payrolls Change Sep 0900 Germany ZEW Economic Sentiment Oct 0900 Germany ZEW Current Conditions Oct ($1 = 4.2240 ringgit) (Reporting by Ashley Tang; Editing by Subhranshu Sahu)
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