New Straits Times (23/06/2026) - JAKARTA: Malaysian palm oil futures climbed for a third session on Tuesday, underpinned by strength in Dalian and Chicago edible oils and strong exports data.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was up RM20, or 0.43 per cent, at RM4,692 (US$1,134.43) a metric ton by 0232 GMT.

Soyoil prices on the Chicago Board of Trade rose 0.35 per cent. The palm oil contract on the Dalian Commodity Exchange increased 0.63 per cent, while Dalian's most-active soyoil contract was up 0.21 per cent.

Palm oil tracks the price movements of rival edible oils, as it competes for a share of the global vegetable oils market.

Chicago grain futures rebounded on Tuesday after two straight sessions of losses, supported by firmer crude oil prices amid tempered optimism over US-Iran peace talks.

Oil prices rebounded on Tuesday after a sharp fall the previous session supported by tempered optimism over US-Iran peace talks, while investors awaited clearer signs of progress in restoring crude flows through the Strait of Hormuz.

Higher crude oil futures make palm a more attractive option for biodiesel feedstock.

Exports of Malaysian palm oil products for June 1-20 rose 19.1 per cent from a month earlier, cargo surveyor Intertek Testing Services said, while independent inspection company AmSpec Agri Malaysia said shipments over the same period jumped 25 per cent on a monthly basis.

The ringgit, palm's currency of trade, weakened 0.44 per cent against the dollar, making the commodity more attractive for buyers holding foreign currencies.

Palm oil may retrace into a range of RM4,602 to RM4,641 per metric ton due to the completion of a five-wave cycle from RM4,438 and the strong resistance zone of RM4,687 to RM4,715, Reuters technical analyst Wang Tao said.

Asian stocks mostly eased and oil prices regained strength early on Tuesday after the US waived sanctions on Iran, while traders grappled with rising expectations the Federal Reserve may take more aggressive action to tackle inflation later this year.

Read more at https://www.nst.com.my/business/corporate/2026/06/1470474/palm-oil-rises-third-session-stronger-dalian-chicago-oils