KL palm oil futures rebound

KL palm oil futures rebound

KUALA LUMPUR (Reuters): Malaysian palm oil futures rebounded
by the close on Wednesday after sellers started to cover
positions ahead of the long holiday this week.

"Short covering may continue tomorrow. This is part of the
holiday blues," said one trader in Kuala Lumpur.

The benchmark November futures contract ended down two ringgit
at 1,071 ringgit (US$281.84) a ton after trading as low as 1,034
on heavy liquidation.

Overall volume stood at 2,493 lots.

The Malaysian market will be closed on Friday for independence
day.

On the physical side, August/September for the southern and
central regions was offered at 1,075 ringgit a ton against bids
at 1,065. Trades were done at 1,050 to 1,070 ringgit for south
and 1,070 for central.

Among refined products, September RBD palm oil was offered at
$295 a ton and October/November/December at $300.

Offers for September RBD olein were at $310 and
October/November/December at $315.

September RBD palm stearin was offered at $255 a ton and
September palm fatty acid distillate was offered at $205.