The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was up 2.7 percent at 2,518 ringgit ($618) at the close of trade, its first gain in three sessions and its sharpest rise since July 25. It earlier hit an intraday high of 2,525 ringgit, its highest level in a week, and rose 1.6 percent on the week after six consecutive weekly falls.
KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Feb 19.
FUNDAMENTALS
* Malaysian palm oil futures edged up slightly around noon on Thursday, snapping two sessions of declines, tracking overnight gains in U.S. soyoil on the Chicago Board of Trade (CBOT).
* U.S. soybean futures fell from their highest since late July on Friday as traders locked in profits from this week's weather-driven rally.
* Oil prices extended gains on Monday, but the increases were limited as the dollar recaptured some ground after touching its lowest level in more than three years on Friday.
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