KL palm oil stays weak on liquidation

KL palm oil stays weak on liquidation

KUALA LUMPUR (Reuters): Malaysian palm oil futures remained weak on Wednesday with players liquidating their positions due to a lack of fresh leads.

The benchmark third position October futures contract closed two ringgit down at 1,030 ringgit (US$271.05) a ton after trading as low as 1,023.

Overall volume improved to 964 lots against 543 on Tuesday.

Physical Aug (south) crude palm oil was offered at 1,020 ringgit a ton against bids of 1,015. It traded from 1,025 to 1,015.

Among refined products, Aug RBD palm oil was offered at $280 a ton FOB, Sep at $285 and Oct/Nov/Dec at $295.

There were offers for Aug RBD palm olein at $300, with Sep at $305 and Oct/Nov/Dec at $315.

Aug/Sep RBD palm stearin was offered at $230 and Aug/Sep palm fatty acid distillate at $190.