{
  "id": 19486752,
  "title": "Palm climbs over 3% on firmer soyoil, softer stock build",
  "url": "https://urgent.news/2026/11/11/palm-climbs-over-3-on-firmer-soyoil-softer-stock-build",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T10:41:30.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40448427/palm-climbs-over-3-on-firmer-soyoil-softer-stock-build"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures experienced a significant surge of over 3% on Wednesday, marking the end of a six-day losing streak. The rise was fueled by stronger soyoil prices and industry data indicating that stockpiles grew less than anticipated. The January delivery benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange increased by 151 ringgit, or 3.55%, reaching 4,407 ringgit ($1,082.27) per metric ton. This positive movement was attributed to David Ng, a proprietary trader at Iceberg X Sdn Bhd, who noted that while the market sentiment remains influenced by soybean oil fluctuations and export rates, the latest market data suggested a more optimistic outlook. Malaysia's palm oil stocks hit a record high in October, surpassing the previous peak, despite a smaller-than-expected rise in inventories as reported by the Malaysian Palm Oil Board. However, the stock level was lower than the estimated 3.75 million tons in a Reuters survey. Additionally, cargo surveyors reported a decrease in Malaysian palm oil product exports from November 1-10, ranging between 1.9% and 2.3% compared to the previous month. In related news, Dalian's most-active soyoil contract rose by 1.15%, and its palm oil contract added 2.57%. Soyoil prices on the Chicago Board of Trade also climbed by 1.08%. Palm oil prices are influenced by the price movements of other edible oils, as it competes for market share in the global vegetable oil sector. The Malaysian ringgit, which serves as the currency for palm oil trading, weakened by 0.39% against the US dollar, making the commodity slightly more affordable for buyers holding foreign currencies. Recent global oil price movements, driven by Iran's stance on nuclear material, have contributed to a general rise in oil prices, making palm oil a more appealing choice as a biodiesel feedstock.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures surged more than 3% on Wednesday, snapping six sessions of losses, as firmer soyoil and key industry data that showed stocks rose less than expected lifted the market. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 151 ringgit, or 3.55%, to 4,407 ringgit ($1,082.27) a metric ton at the close. The…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}