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KUALA LUMPUR, Feb 7: Malaysian palm oil futures extended losses on Thursday, but technical buying lifted prices off their lows by the close.
Benchmark third-month April futures ended down 18 ringgit at 1,128 ringgit ($296.84) a ton after trading as low as 1,112 ringgit. It fell 21 ringgit on Wednesday. Overall volume was heavy at 3,230 lots, up from Wednesday’s 2,491.
In physical palm oil, the February contract for the southern and central regions saw bids at 1,090 ringgit a ton versus offers at 1,100. Trade was reported at 1,085 and 1,087.50 ringgit for south.
March contract for south and central saw bids at 1,115 ringgit against offers at 1,125.—Reuters
