October 2, 2003	Thursday	Sha’aban 5, 1424

KUALA LUMPUR, Oct 1: Malaysian palm oil futures bounced back by Wednesday’s close, after falling in the morning on profit-taking and a lack of buying factors.

With no crop or exports data at hand to lend direction, dealers attributed the rebound to speculative play or covering by players who felt exposed after selling in a rallying market.

Volume was at 6,225 lots, lower than Tuesday’s 8,112 lots.

Sixty per cent of the trade came in the late session when prices rebounded. An overnight rise in rival Chicago soyaoil helped the market open higher before profit-taking set in.

CPO for October saw bidders/sellers at 1,520/1,525 ringgit a ton in the southern and central regions of Malaysia — up from Tuesday’s level of 1,510/1,520. Trades for October were reported at 1,515 to 1,520 ringgit in both regions.

CPO for November saw bidders/sellers at 1,495/1,505 ringgit a ton in the southern and central areas. Deals were reported at 1,500 ringgit. —Reuters