{
  "id": 3961600,
  "title": "Palm logs weekly loss, snaps three-week winning streak",
  "url": "https://urgent.news/2026/08/28/palm-logs-weekly-loss-snaps-three-week-winning-streak",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-28T12:11:34.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40436879/palm-logs-weekly-loss-snaps-three-week-winning-streak"
  },
  "original_language": "en",
  "account": "Malaysian palm oil futures climbed over 1% on Friday, buoyed by increasing soyoil prices and concerns over future output, but concluded the week with a loss, marking the end of a three-week winning streak. The November delivery contract for palm oil on the Bursa Malaysia Derivatives Exchange climbed 74 ringgit, or 1.54%, to 4,890 ringgit ($1,206.61) per metric ton at the close. It experienced a decline of 2.55% this week. Analyst David Ng, from trading firm Iceberg X Sdn Bhd, noted that palm oil benefited from gains in the soybean oil market, and anticipated medium-term production concerns would bolster market sentiment. Ng believed prices would remain above 4,800 ringgit, with resistance at 4,950 ringgit. Dalian's most active soyoil contract also rose 1.67%, while its palm oil contract increased 1.1%. Soyoil prices on the Chicago Board of Trade rose 2.13%. Palm oil mirrors price movements of other edible oils, competing for a share of the global vegetable oils market. Oil prices stabilized, but were set for a weekly decline as traders weighed stagnant U.S.-Iran diplomatic talks and limited crude oil flows through the Strait of Hormuz. Weaker crude oil futures made palm oil a less appealing choice for biodiesel feedstock. The ringgit, palm's trading currency, strengthened 0.2% against the dollar, making the commodity slightly more expensive for buyers using foreign currencies.",
  "summary": "KUALA LUMPUR: Malaysian palm oil futures rose more than 1% on Friday, lifted by firmer soyoil prices and worries over future output, but still logged a weekly loss to end its three-week winning streak. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 74 ringgit, or 1.54%, at 4,890 ringgit ($1,206.61) a metric ton at the close. The contract…",
  "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."
}