Malaysia palm oil closes lower on data, Project A

Malaysia palm oil closes lower on data, Project A

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed lower on Monday, pressured by bearish export figures and sharp falls in Chicago Board of Trade (CBOT) soybean futures in Project A screen trading.

Cargo surveyor Societe Generale de Surveillance Malaysia Sdn Bhd (SGS) said on Monday that Malaysian palm oil exports for July were at 719,360 tons, down from 768,149 tons in June.

The benchmark third position October futures contract ended down 12 ringgit at 1,033 ($271.84) a ton.

CBOT soybean futures fell sharply in Monday Project A trading following rain in a key U.S. crop-growing area over the weekend.

Aug (south) crude palm oil was offered at 1,030 ringgit a ton against bids of 1,025. Trade was reported at 1,035 to 1,030.

Among refined products, Aug RBD palm oil was offered at $285 a ton FOB, Sep at $287.50 and Oct/Nov/Dec at $297.50.

There were offers for Aug RBD palm olein at $307.50, with Sep at $310 and Oct/Nov/Dec at $320.

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