KUALA LUMPUR, Oct 7: Malaysian palm oil futures ended up on Tuesday, rebounding from Monday’s fall and inspired by the strength in rival Chicago soyaoil.

But gains at the close were off the day’s highs, trimmed by those eyeing quick profit.

The benchmark third-month palm oil contract on the Malaysian Derivatives Exchange (MDEX), December, settled at 1,480 ringgit ($389.47) a ton, up two ringgit from the previous day.

Other traded months closed six ringgit to 17 ringgit higher.

Overall market volume was 5,264 lots, a shade lower from Friday’s 5,995 lots.

Physical crude palm oil (CPO) saw slightly higher offers. CPO for October in the southern and central regions saw bidders/sellers at 1,555/1,565 ringgit, against Monday’s level of 1,550/1,555.

Trades for October CPO were done at 1,565-1,560 ringgit. November south was bid at 1,530 ringgit and saw offers at 1,540 in both the southern and central zones.—Reuters