Malaysian palm oil futures climbed to a near two-week high, as investors cited a rebound after over-selling on the euro zone debt crisis, with expectations of dry weather conditions in soybean-growing regions in the United States also supporting prices. 
It was over-sold to begin with, said a Singpaore-based analyst. If you look at soybean prices, it has been quite resilient, so palm has been over-shooting to the downside.