Palm oil rises prior to trading halt on Dalian strength

Trading in Malaysian palm oil futures, which were set for weekly gains, halted on Friday due to a system outage of the Globex electronic trading platform, with all of Bursa Malaysia derivative products affected, according to the bourse. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange gained 22 ringgit, or 0.54%, to 4,112 ringgit ($995.88) a metric ton – its third straight session of gains – before trading was halted at around 10:36 a.m. (0236 GMT). It was not clear exactly how many CME products were affected but prices for WTI crude, Treasury futures, S&P 500 futures, palm oil and gold were not updating, according to LSEG Data. “Our priority is to minimise impact and ensure market integrity,” the bourse said in a statement, adding it was working with Globex provider Chicago Mercantile Exchange Group to restore services as quickly as possible. The benchmark contract has risen 1.1% so far in the week, but has lost 2.78% for the month. ...