KUALA LUMPUR, June 23: Malaysian crude palm oil futures recouped early losses as buyers returned to the market, drawn by a rebound in rival US soyaoil. In palm oil, the benchmark third-month futures on Bursa Malaysia Derivatives, September, ended Thursday’s trade up 3 ringgit at 1,436 ringgit ($375.53) a ton, off the day’s high of 1,440.
The contract was weighed down by CBOT in the morning, hitting a low of 1,419.
Other traded months closed up 3 to 6 ringgit.
Overall volume was 4,408 lots of 25 tons each. The market usually sees 6,000 lots or more on a busy day.
In physical trade of crude palm oil, the combined months of June and July saw bids closing at 1,440 ringgit a ton in Malaysia’s southern region, against offers at 1,445.
In the central region, bids/offers stood at 1,435/1440 ringgit.
Trades were reported at 1430-1440 ringgit in both regions.
