Palm oil rebounds and closes higher, with soybean oil strength and weather concerns providing dual support

⑴ Malaysian palm oil futures closed higher on Thursday, with the main November contract settling at 4,959 ringgit per ton, up 66 ringgit. The gains were mainly driven by the strength in Chicago soybean oil, with cross-product arbitrage effects boosting buying sentiment. ⑵ Traders pointed out that persistent weather uncertainties in production areas may disrupt palm oil output expectations, while potential supply-side risks provide additional price support. Market attention on upcoming production data has increased. ⑶ Currently, there is stronger overall linkage within the edible oil sector. Whether the upward momentum of soybean oil continues and rainfall conditions in key production areas will be critical variables for short-term market direction.