After two losing sessions, reflecting the movement of the Chicago soybean oil market while the market awaits data from the Malaysian Palm Oil Board, Malaysian palm oil futures rose on Wednesday.

The reference palm oil contract for delivery in May to the Bursa Derivatives Exchange in Malaysia was up 21 ringgit, or 0.48%, to 4,370 ringgits ($983.13) per metric ton at lunchtime. A trader based in Kuala Lumpur said “Futures contracts will attempt to recover some of yesterday's decline before heading back in direction pending next Monday's MPOB data

Chicago Board of Trade (CBOT) soybean oil prices rose by 0.58%, while Dalian's most active soybean oil contract fell by 1.16% and its palm oil contract lost 1.16% and its palm oil contract lost 1.3%. Palm oil follows the price movements of competing edible oils as it fights for a share of the global vegetable oil market. According to reports, palm oil could fall in the range of 4,183 to 4,264 ringgits per metric ton, as it broke the support at 4,360