World vegetable oil prices ended the week higher, with palm oil and soybean oil futures in the U.S. advancing on short covering and bargain buying before the weekend. 

Soybean oil prices were up in early trading alongside early strength in crude oil and the soybean complex. Crude oil prices pulled back from their highs, however, and soy oil followed suit. The most liquid soybean oil futures contract on the CME (December) ended on Friday at 52.27 cents per pound, up 53 basis points per pound, or one percent.

In Malaysia, the benchmark palm oil futures contract for January delivery closed 13 ringgit per tonne, or 0.4 percent, higher at 3,775 ringgit per tonne on Friday. Palm fundamentals remain bearish with market participants eagerly awaiting Oct production estimates to know the fate of the end month stocks, particularly after exports are seen to end flat to lower. Meanwhile, the ringgit finished the…