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Palm gains over 2% on firmer soyoil, softer stock build
KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Wednesday, snapping six sessions of losses, supported by firmer soyoil and key industry data that showed stocks rose less than expected. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 107 ringgit, or 2.51%, to 4,363 ringgit ($1,076.22) a metric ton by the midday break. The market rallied after stronger overnight soybean oil prices and a smaller-than-expected buildup in Malaysian inventories following the latest Malaysian Palm Oil Board report, said David Ng, a proprietary trade...
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