KUALA LUMPUR: Malaysian palm oil futures jumped to a one-week high on Wednesday, supported by strong gains in Chicago Board of Trade soyoil, though market sentiment remained cautious ahead of an industry conference in Kuala Lumpur next week.

Benchmark palm oil futures for May on the Bursa Malaysia Derivatives Exchange rose 2.2 per cent o 2,831 ringgit ($636.82) a tonneon Wednesday evening, its strongest daily gain in two months.

It earlier hit 2,835 ringgit, its highest since Feb. 21.

Traded volumes stood at 67,107 lots of 25 tonnes each at the close of trade. `Palm opened higher based on soyoil movement overnight,` one Kuala Lumpur futures trader said, referring to soyoil futures on the Chicago Board of Trade.-Reuters