Genesis 40:16

And the chief baker, when he understood the interpretation of his companion's dream, seeing that he had interpreted well, began to speak with an impatient tongue, and said to Joseph, I also saw in my dream, and, behold, three baskets of fine cakes were upon my head.

THAT THE INTERPRETATION WAS GOOD. Onkelos rendered it that he interpreted it well. A similar use is found in the verses: Teach me fair discernment and knowledge;, 119:66. That they were ‘tovoth’ (fair), which means “pretty.” The intent of the verse is to state that this man [the lord of the bakers] had scorned Joseph, thinking of him as not ever knowing how to interpret the dream, and he would never have told him the dream had he not seen that he interpreted for his friend in a fair and proper manner. It may be that the verse is saying: “And the lord of the bakers saw that he gave a favorable interpretation to the lord of the butlers and he rejoiced. He then told him his own dream which had caused him more anguish than that of his friend.”

BASKETS OF ‘CHORI.’”Baskets made of peeled willows, made so that they have many holes.” This is Rashi’s language.
Rav Saadia Gaon interpreted it as “baskets of white bread,” white as befits the king’s bread, with the word chori being derived from the Hebrew, Neither shall his face now wax white (‘yechvaru’), as well as from the Aramaic where the word chivar means “white.” This is the correct interpretation, for all the baskets in the dream contained the king’s bread, and in the uppermost basket there were all manner of baked goods for Pharaoh.
You find it similarly in the language of our Rabbis in the Mishnah: “Large loaves and white cakes (v’chivri) [may be baked on a Festival Day].” And in the Jerusalem Talmud on this Mishnah: “The Rabbis [in discussing the permissibleness of baking extra fine white breads on the Festival Day even though they require more work than ordinary bread] derived the meaning of chori from this verse: And, behold, I had three baskets of ‘chori’ on my head. “ in the verse and chivri in the Mishnah were considered by the Rabbis of the Talmud as identical. For just as in the case of the king’s bread it means “large and white,” as befits such bread, so does it have a similar meaning in the Mishnah. It is thus obvious that the Rabbis understood the word chori, as did Rav Saadia Gaon, to mean “white.”
Mikeitz

כי טוב פתר, his interpretation sounded very convincing, was accepted as the true interpretation.

סלי חרי; full of holes. The word חורים, appears as meaning holes in Job 30,6 חורי עפר וכפים, “holes in the ground and in rocks.” It also appears in this sense in Isaiah 19,9 ואורגים חורי, “and the weavers making holes.” Baskets which are usually of woven palm frond leaves have these little holes as the nature of weaving does not permit the resulting texture of the material to be airtight and waterproof.

כי טוב פתר, he was encouraged to think that Joseph would also come up with positive explanation of his own dream. Our sages use the words “as Joseph had interpreted to them,” (verse 22) to state that most dreams turn out to be in accordance with how the interpreter saw them.

וירא, he realised in his heart when he had heard the interpretation Joseph had given to the Chief cup bearer that this was both a true and a positive interpretation, and he was confident that Joseph would also have a similarly positive interpretation for his own dream. He based himself there on something which our sages have called: “most dreams follow the interpretation (by the interpreter).” (Berachot 55). Joseph interpreted the two dreams according to what his reason told him was the most likely interpretation. He was not concerned whether his interpretation would be considered favourable, i.e. as portending something good in store for the dreamer or if the reverse.

סלי חרי, the word חרי is related to the same word in Kings II 12,10 ויקוב חור, “he bored hole.” The baskets are made of thin strips, peeled, with little holes so that they are elastic and look as if plaited. There is no difference between the meaning of the ending י in חרי, and the noun in the regular plural mode חרים. We find such an ending with the letter י in Samuel II 23,8 ראש השלישי, where the noun שליש means “a type of hero, warrior, leader of a contingent of troops.” Sometimes the author contents himself with a partial plural ending, i.e. י, whereas on other occasions he uses the full plural ending ים. According to my teachers (Jerusalem Talmud Beytzah 2,7) the word חרי is derived from חררה, a type of cake baked on hot coals, and according to this interpretation the baskets the baker saw resembled these cakes in appearance. Whereas the lower two baskets contained these kinds of flat cakes, the topmost basket contained the kind of baked goods served to Pharaoh, i.e. superior goods, pastries, baked in an oven or in an oiled pan.