KUALA LUMPUR: Malaysian palm oil futures fell for a third straight day on Wednesday, tracking losses in soyoil overnight on the Chicago Board of Trade (CBOT).

The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange ended down 0.3 per cent at 2,637 ringgit ($613.68) but recovered some earlier losses after being down over 1pc at the midday break.

It touched a low of 2,608 ringgit, the weakest since Aug 8. Traded volumes totalled 55,323 lots of 25 tonnes each for the day. “Palm followed the drop in the external market, which fell quite a lot last night,” said a Kuala Lumpur-based futures trader, referring to CBOT soyoil.

Published in Dawn, August 17th, 2017