Malaysian palm oil futures hovered around MYR 4,250 per tonne after a four-day decline, as traders weighed mixed global and local signals. U.S. President Trump and Chinese President Xi Jinping concluded an approximately 90-minute meeting in Busan, South Korea, on trade and tariff issues, though no concrete details were released. Trump said the U.S. could sign a trade deal with China “pretty soon,” while calling Xi a tough negotiator, but Beijing has yet to comment. Traders also awaited China’s upcoming PMI data for further clues on demand prospects. Meanwhile, a weaker ringgit and stronger Dalian soyoil prices spurred some bargain buying after palm oil hit a 12-week low the previous day. In top producer Indonesia, palm oil inventories slipped 1% from the prior month to 2.54 million metric tons in August, according to GAPKI. However, the association projected full-year output at around 56 million metric tons, surpassing earlier forecasts.
