Palm rises on stronger Chicago soyoil, weak Dalian caps gains
14/01/2026 (Reuters), Kuala Lumpur - Malaysian palm oil futures opened higher on Wednesday, after falling in the previous session, tracking stronger Chicago soyoil, although weaker Dalian oils limited the gains.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained RM32, or 0.79 per cent, to RM4,096 (US$1,010.11) a metric ton in early trade.
Dalian's most-active soyoil contract fell 0.07 per cent, while its palm oil contract shed 0.16 per cent. Soyoil prices on the Chicago Board of Trade were up 0.29 per cent.
Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market.
The ringgit, palm's currency of trade, strengthened 0.02 per cent against the dollar, making the commodity slightly expensive for buyers holding foreign currencies.
European Union soybean imports for the 2025/26 season that began in July reached 6.61 million metric tons by January 11, down 14 per cent from the same period a year earlier, while palm oil imports were down 5 per cent at 1.60 million tons.
Oil prices slipped after a four-day increase, as Venezuela resumed exports, but fears of Iranian supply disruptions following deadly civil unrest in the major Middle Eastern producer loom over the market.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
India's palm oil imports fell to an eight-month low in December, as refiners increased purchases of rival oils such as soyoil and sunflower oil amid weaker seasonal demand during the winter months.
Malaysia will introduce a reference price for used cooking oil in the first quarter of this year to prevent price manipulation in the sector.
Malaysia's palm oil production in 2026 is expected between 19.5 million metric tons and 19.8 million metric tons, below the record high of 20.28 million tons in 2025.
Palm oil may revisit its Tuesday high of RM4,147 per metric ton, driven by a wave c, Reuters technical analyst Wang Tao said.
Asian stocks rose, buoyed by Japanese shares, as investors braced for a snap election in Japan that could lead to more fiscal stimulus, while worries about central bank independence and benign US inflation data whipsawed currencies.