SINGAPORE, Sept 14: Malaysian crude palm oil futures were mostly higher in late trade on Wednesday, aided by short covering on the physical side. Overall volume was moderate, suggesting many players refrained from taking fresh positions ahead of the release of export data and Thursday’s expiry of future contracts.
The benchmark third-month crude palm oil contract on Bursa Malaysia Derivatives, November, closed three ringgit higher at 1,390 ringgit ($368.70) after trading as high as 1,392.
Overall volume stood at 3,730 lots of 25 tons each.
In physical dealings of crude palm oil, September was offered at 1,390 ringgit a tonne in the southern region against bids of 1,385 ringgit. Deals were done at 1,382.50 to 1,385 ringgit.
September saw bids at 1,377.50 ringgit in the central region while offers stood at 1,385. Deals were done at 1,375 to 1,377.50.
October saw offers at 1,395 and bids at 1,390 in the southern part of Malaysia.
Offers for the central zone were at 1,390 ringgit while bids were at 1,385. Trades were reported at 1,385.—Reuters
