KUALA LUMPUR, July 14: Malaysian palm oil ended virtually flat on Thursday, surrendering early gains on the back of a strong soyoil, as the outlook for exports in July remained weak after a wobbly start. Two shipping surveyors, Intertek Testing Services and Societe Generale de Surveillance, will issue on Friday Malaysian export figures for the first half of this month versus June 1 to 15.

Overall volume was just 2,565 lots of 25 tons. The market usually sees 6,000 lots or more on a busy day.

July soyoil on the CBOT rose 0.34 cent to 25.35 cents per lb at Wednesday’s close.

In physical trade of crude palm oil on Thursday, July was done at 1,415-1,420 ringgit a ton in the southern region of Malaysia and 1,415-1,417.50 in the central region.

Offers were seen at 1,425 ringgit and bids at 1,420 in the south. In the central region, offers and bids were 1,420 and 1,417.50 ringgit, respectively.

Trades for August were at 1,417.50-1420 ringgit in the south and 1,417.50 in the central region. Offers stood at 1,425 ringgit a ton, against bids of 1,420 in the south and 1,417.50 in the central region.—Reuters