SINGAPORE, Dec 8: Malay-sian crude palm oil futures extended losses in active trade on Thursday but buying interest surfaced at lower levels and helped the benchmark contract to hold above key support at 1,400 ringgit.
The third-month February contract on Bursa Malaysia Derivatives ended three ringgit lower at 1,410 ringgit ($373.91) a ton after trading as low as 1,404 ringgit.
Other traded months were down two and three ringgit.
Overall volume was heavy at 4,474 lots.
December soyaoil was 0.05 cents per pound lower at 21.00 cents in electronic trading.
The rainy season has begun and that affects production, he added.
In Malaysia’s physical crude palm oil market December was offered at 1,400 ringgit a ton against bids of 1,395 ringgit in southern and central regions.
Deals were reported at 1,390 to 1,395 ringgit.
January (south/central) was offered at 1,410 ringgit against bids of 1,405, with deals at 1,400.—Reuters
