KUALA LUMPUR, Feb 25: Malaysia’s palm oil futures softened in late trading on Tuesday as disappointing export data pulled prices lower, traders said.

Now are looking for fresh leads and I guess we can only rely on the Chicago market, said one trader.

At the close, the benchmark third-month May futures fell 11 ringgit to 1,603 ringgit ($421.84) a ton after trading as high as 1,610 ringgit.

Overall volume was moderate at 3,100 lots.

Earlier, cargo surveyor Societe Generale de Surveillance (SGS) said Malaysian palm oil exports for February 1-25 stood at 622,361 tonnes, down from 757,238 for January 1-25 and below market expectations of 680,000-700,000 tons.

In the physical market, the February and March contracts in both the southern and central regions saw sale offers at 1,625 ringgit a ton against bids of 1,615 ringgit.

Trade was reported for both months in the south and central regions at 1,615-1,620 ringgit.—Reuters