KUALA LUMPUR, Aug 1: Malaysian palm oil futures fell on Friday, extending the previous day’s declines due to continued speculative selling and bearish charts, traders said.

Third-month October ended down 25 ringgit at 1,255 ringgit ($330.26) a ton, off the day’s low of 1,251. The contract had broken key support at 1,266 ringgit earlier in the day.

Overall volume was heavy at 6,067 lots compared with Thursday’s 4,855 lots.

In physical trade, August crude palm oil (CPO) saw closing offers in the south region at 1,395 ringgit a ton against bids of 1,390 ringgit. Deals were reported at 1,410 to 1,390 ringgit.

August CPO for central was offered at 1,400 ringgit against bids of 1,395 ringgit. Deals were done at 1,405 to 1,395 ringgit.—Reuters