Palm oil rangebund as crude weighs, but set to snap three-week winning streak

KUALA LUMPUR: Malaysian palm oil futures traded in a tight range on Friday, but were on track to snap a three-week winning streak, as firmer Dalian oils and a softer ringgit helped counter weaker crude oil prices. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange held its ground at 4,588 ringgit ($1,145.00) a metric ton in early trade. The contract has declined 0.30% so far this week.

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