Malaysian palm oil ends at 3-week high

Malaysian palm oil ends at 3-week high

KUALA LUMPUR (Reuters): Malaysian palm oil futures climbed to
the highest level in three weeks on further short covering and
speculative buying prompted by bullish export figures for the
first 25 days of October, traders said.

The benchmark third-month January futures KPOF1] contract
closed up 15 ringgit at 870 ringgit (US$228.95) a ton after
reaching 875, its strongest level since October 3.

Cargo surveyor Societe Generale de Surveillance Malaysia Sdn
Bhd (SGS) said on Wednesday Malaysian palm oil exports for the
first 25 days of October were at 789,807 tons compared with
659,749 tons for the same period in September.

November (south) crude palm oil was offered at 840 ringgit a
ton against bids of 835. It traded at 820 to 835 ringgit.

Among refined products, November RBD palm oil was offered at
$240 a ton FOB and December at $245.

There were offers for November RBD palm olein at $260 and
December at $265.

November RBD palm stearin was offered at $180 and November
palm fatty acid distillate at $140.