{
  "id": 3903380,
  "title": "Palm rises but poised to snap three-week winning streak",
  "url": "https://urgent.news/2026/08/28/palm-rises-but-poised-to-snap-three-week-winning-streak",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T05:45:56.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436836/palm-rises-but-poised-to-snap-three-week-winning-streak"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Malaysian palm oil futures climbed on Friday, buoyed by higher soyoil prices and apprehensions about potential output, although the contract was set to break a three-week winning streak. The November November palm oil contract on Bursa Malaysia Derivatives Exchange gained 43 ringgit, or 0.89%, to 4,859 ringgit ($1,206.61) per metric ton by noon. The contract has slipped 3.41% this week. Palm oil mirrored gains in the soybean oil market, and output worries for the medium term were expected to boost market sentiment, according to David Ng, a trader at Iceberg X Sdn Bhd. \"We view prices supported above 4,800 ringgit with resistance at 4,950 ringgit,\" he stated. Dalian’s most-active soyoil contract climbed 1.27%, while its palm oil contract jumped 0.49%. Soy oil prices on the Chicago Board of Trade were up 2.31%. Palm oil mirrors the price movements of other edible oils, as it competes for a slice of the global vegetable oils market. Falling oil prices were expected to end a two-week winning streak, despite finishing higher the prior day after a report that US President Donald Trump was not interested in reverting to prior deal terms with Iran. Weaker crude oil futures made palm oil a less appealing choice for biodiesel feedstock. The ringgit, palm oil's trade currency, strengthened 0.1% versus the dollar, making the commodity slightly pricier for foreign currency holders.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures rose on Friday, supported by firmer soyoil prices and worries over future output, though the contract remained on track to snap a three-week winning streak. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 43 ringgit, or 0.89%, at 4,859 ringgit ($1,206.61) a metric ton by the midday break. The contract…",
  "key_points": [
    "Malaysian palm oil futures rose 0.89% to 4,859 ringgit per metric ton",
    "Contract poised to end three-week winning streak",
    "Soy oil prices and output concerns boost market sentiment"
  ],
  "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."
}