{
    "success": true,
    "data": {
        "id": 1278628,
        "msgid": "malaysian-palm-oil-ends-higher-on-weekend-covering-1447893297",
        "date": "2000-09-23 00:00:00",
        "title": "Malaysian palm oil ends higher on weekend covering",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "Malaysian palm oil ends higher on weekend covering KUALA LUMPUR (Reuters): Malaysian palm oil futures closed higher on Friday, rebounding from recent steep losses on pre- weekend short covering and hopes of positive September export data, traders said. The market took in its stride news that Indonesia's crude palm oil production could reach 7.7 million tons this year and trigger more aggressive sales from Malaysia's rival.",
        "content": "<p>Malaysian palm oil ends higher on weekend covering<\/p>\n<p>KUALA LUMPUR (Reuters): Malaysian palm oil futures closed<br>\nhigher on Friday, rebounding from recent steep losses on pre-<br>\nweekend short covering and hopes of positive September export<br>\ndata, traders said.<\/p>\n<p>The market took in its stride news that Indonesia&apos;s crude palm<br>\noil production could reach 7.7 million tons this year and trigger<br>\nmore aggressive sales from Malaysia&apos;s rival.<\/p>\n<p>The benchmark third-month December futures contract ended up<br>\neight ringgit at 918 ringgit ($241.58) a ton after trading as<br>\nhigh as 924. Market volume was 1,148 lots.<\/p>\n<p>But traders said growing domestic stocks were expected to cap<br>\nfurther gains.<\/p>\n<p>&quot;The market saw some covering after an oversold position. We<br>\nshould see resistance at 940 and support at 900 next week,&quot; said<br>\none trader in Kuala Lumpur.<\/p>\n<p>Bearish data from private forecaster Ivan Wong had weighed on<br>\nprices on Thursday.<\/p>\n<p>Traders said the market appeared to be optimistic about<br>\nSeptember 1-25 export data due to be released next week, despite<br>\nIndia&apos;s shift to Indonesian palm oil due to the weakening rupiah<br>\nand attractive prices Indonesia was offering to prospective<br>\nbuyers.<\/p>\n<p>&quot;I think SGS and ITS figures will be slightly better than the<br>\nprevious month,&quot; the Kuala Lumpur trader said.<\/p>\n<p>Cargo surveyors Intertech Testing Services (ITS) and Societe<br>\nGenerale de Surveillance (SGS) are scheduled to release their<br>\nSeptember 1-25 export figures on Monday.<\/p>\n<p>Physical prices also rebounded on covering interest but<br>\ntrading was generally thin.<\/p>\n<p>Sept (south) crude palm oil was offered at 880 ringgit a ton<br>\nagainst bids of 875, and trade was reported at 870 to 875.<\/p>\n<p>Oct (south) crude palm oil was offered at 890 ringgit against<br>\nbids of 885, and trade was reported at 885 to 890.<\/p>\n<p>Among refined products, Oct RBD palm oil was offered at<br>\n$252.50 a ton FOB, Nov at $257.50 and Dec at $260.<\/p>\n<p>There were offers for Oct RBD palm olein at $272.50, Nov at<br>\n$277.50 and Dec at $280.<\/p>\n<p>Oct RBD palm stearin was offered at $187.50 and Oct palm fatty<br>\nacid distillate at $152.50.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/malaysian-palm-oil-ends-higher-on-weekend-covering-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}