SINGAPORE, Dec 7: Malaysia’s crude palm oil futures hardly changed at the close on Wednesday but some buying in the physical sector helped the market resist pressure from a weak soyaoil.
The third-month February contract on Bursa Malaysia Derivatives ended unchanged at 1,413 ringgit ($373.85) a ton after trading as low as 1,404 ringgit.
Other traded months were down 2 and 5 ringgit, and dealers pegged key support at 1,400 ringgit.
Overall volume was moderate at 3,916 lots.
December soyaoil was 0.61 cents per pound lower at 21.05 cents in electronic trading on Wednesday, hit by a technical pullback in soyabean futures.
In Malaysia’s physical crude palm oil market, December contract was offered at 1,405 ringgit a ton against bids of 1,395 ringgit in southern and central regions.
Deals were reported at 1,390 to 1,395 ringgit.
January (south/central) was offered at 1,415 ringgit a ton against bids of 1,405 ringgit. There were no deals.—Reuters
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