Malaysian palm oil prices stabilized above MYR 4,560 per tonne, driven by bargain buying after dipping to MYR 4,469 in the prior session. The contracts are heading for their first weekly gain in three weeks, up over 3%, fueled by expectations of increased demand during the Lunar New Year celebrations in China, a major consumer. On the production side, heavy rains in Malaysia led regulators to forecast a fourth consecutive monthly drop in output for December, likely reducing stockpiles for the third straight month. Additionally, dry weather in parts of Argentina prompted speculators to reduce short positions in soybean and soymeal futures, further supporting palm oil prices. However, gains were limited by cargo surveyor data indicating a decline of 1.1% to 4% in Malaysian palm oil exports from December 1–25 compared to the same period in November.