CPO futures rise for second day as ringgit falls, U.S. soy oil rises

On June 26, according to media reports, Malaysia’s BMD crude palm oil futures rose for the second consecutive trading day on Monday, supported by the rise in CBOT soybean oil prices and the fall in the Malaysian ringgit.

At 12:09 Beijing time, the main contract of Malaysian palm oil futures rose 1.38% to 3670 ringgit per ton.

A weaker ringgit supported palm oil prices.

Crude palm oil futures are denominated in the Malaysian ringgit, which makes palm oil cheaper for buyers holding other currencies when the ringgit weakens.