KUALA LUMPUR, Oct 17: Malaysian crude palm oil futures ended a little softer on Monday after export estimates for October 1-15 failed to follow through with the strong trend seen in the first 10 days of the month.
A partial rebound in Chicago soyaoil during Asian trading hours prevented the palm oil market from further erosion, dealers said.
Five days ago, the cargo surveyor had estimated a growth of almost 21 per cent for Oct. 1 to 10 exports.
Intertek Testing Services, another tracker of Malaysian palm oil cargoes, said on Saturday it had estimated Oct. 1 to 15 exports at 630,627 tons, up 8.1 per cent from Sept. 1 to 15.
Physical prices of crude palm oil were also hardly changed, following the trend in futures. Physicals for October saw offers at 1,460 ringgit and bids at 1,452.50, versus Friday’s 1,460/1,455.
Trades were done at 1,450 to 1,455 ringgit.—Reuters
