KL palm oil barely changed

KL palm oil barely changed

KUALA LUMPUR (Reuters): Malaysian palm oil futures surrendered early gains to close barely changed on Thursday as players awaited November stocks, exports and output estimates from private forecaster Ivan Wong.

The benchmark third-month February futures contract ended up one ringgit at 827 ringgit (US$217.63) a ton after trading as high as 835.

Short covering and overnight gains in Chicago soyoil futures had earlier lifted prices.

Physical prices also retreated from earlier highs in continued light trade.

December (south) crude palm oil was offered at 775 ringgit a ton against bids at 770, and trade was reported at 780 to 770.

January (south) was offered at 815 ringgit against bids of 805, and trade was done at 815 to 810.

Among refined products, December RBD palm oil was offered at $222.50 a ton FOB and January at $225.

There were offers for December RBD palm olein at $235 and January at $237.50.

December RBD palm stearin was offered at $207.50 and December palm fatty acid distillate at $165.