Malaysia palm oil ends off highs<\/p>\n
KUALA LUMPUR (Reuters): Malaysian palm oil futures closed with
\npared gains on Wednesday as players turned cautious after rises
\nearlier in the day and on Tuesday.<\/p>\n
Traders said market talk that exports were likely to slow down
\nthis month capped the upside. They noted resistance at 870
\nringgit a ton.<\/p>\n
The benchmark third-month January futures KPOF1] contract
\nended up seven ringgit at 859 ringgit (US$226.05) a ton after
\ntrading as high as 869.<\/p>\n
Traders said the market was worried that a further weakening
\nof the rupiah would lead to aggressive export sales from
\nIndonesia, the world's second largest palm oil producer after
\nMalaysia.<\/p>\n
The physical sector traded in a narrow range with prices held
\nup by light refiner covering, traders said.<\/p>\n
November (south) crude palm oil was offered at 840 ringgit a
\nton against bids of 835, and traded between 830 and 840.<\/p>\n
Among refined products, November RBD palm oil was offered at
\n$235 a ton FOB and December at $240.<\/p>\n
There were offers for November RBD palm olein at $255 and
\nDecember at $262.50.<\/p>\n
November RBD palm stearin was offered at $187.50 and November
\npalm fatty acid distillate at $132.50.<\/p>",
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