KUALA LUMPUR, July 1: Malaysian palm oil prices rose, tailing a fresh rebound in Chicago soyaoil, but trade was light as investors were wary of building positions ahead a long weekend in the United States.

The CBOT, which trades soybean and soya products, will be closed on Monday for US Independence Day.

September palm oil fell one percent on Thursday after Societe Generale de Surveillance, the main surveyor of Malaysian oil palm cargoes, said exports dipped 9.5 percent in June from the previous month.

Overall volume was 3,760 lots of 25 tons each. The exchange usually sees 6,000 lots or more on a busy day.

Bids and offers in physical trade of crude palm oil were down, taking their cue from the weak opening in futures.

Physical crude palm oil for July and August saw bids at 1,415 ringgit a ton in Malaysia’s central and southern regions, against offers at 1,420.

Thursday’s bids/offers were at 1,415/ 1,417.50 ringgit.

Trades were reported for July only, at 1,410-1,420 ringgit in both regions.—Reuters