KUALA LUMPUR, July 31: Malaysian palm oil futures ended lower in choppy trade on Thursday that saw speculators trying to push up benchmark October to 1,300 ringgit a ton, traders said.

The market discounted July export numbers that were within expectations. Cargo surveyor SGS said Malaysia exported 1,120,671 tons of palm oil in July, almost unchanged from 1,120,260 in June.

At the close third-month October was quoted at 1,280 ringgit ($336.84), down six ringgit, after trading as high as 1,292, still below the key 1,309 resistance level. The contract touched a low of 1,275. Overall volume fell to 4,855 lots from Wednesday’s 6,880.

In physical trade, August crude palm oil (CPO) saw closing offers in the south region at 1,435 ringgit a ton against bids of 1,430 ringgit. Deals were reported at 1,430 to 1,435.

August CPO for central was offered at 1,430 ringgit against bids of 1,425. Deals were done at 1,425 to 1,430. September CPO was heard at 1,370/1,340 in the south and central regions. No deals were reported.—Reuters