BANGKOK, Jan 23: Malaysian crude palm oil futures ended slightly higher in modest trade on Monday, chasing firmer prices of rival US soyaoil, dealers said.

“The market was flat...there is no indication where the market’s going,” said one dealer.

In Kuala Lumpur, Bursa Malaysia Derivatives’ third-month crude palm oil contract, April, was up 3 ringgit at 1,439 ringgit ($384.75) a ton after trading between 1,436 and 1,440.

Other traded contracts were up two to four ringgit.

Volume was moderate at 2,469 lots of 25 tons each. The market usually sees 6,000 lots or more on a busy day.

The only factor that really moved the market today was the Chicago on Friday, which ended higher, and its electronic trade, which ended higher again today, said another dealer.

The market will only follow Chicago because there are no fundamentals, no factors locally to lead the market, the first dealer said.—Reuters