BMD Malaysian palm oil futures higher, but set for a weekly loss

June 2, according to foreign media reports, BMD Malaysian palm oil futures rose for the second consecutive trading day, as concerns about El Niño stimulated buying, but sluggish exports may drag down the weekly decline.

Early signs of hot, dry weather from El Niño are threatening food crop growers across Asia, while U.S. farmers are counting on torrential summer rains from the weather phenomenon to ease the impact of a severe drought.