Malaysian palm oil futures ends lower

Malaysian palm oil futures ends lower

KUALA LUMPUR (Reuters): Malaysian palm oil futures closed lower on Thursday as players resumed selling following bearish data from private forecaster Ivan Wong.

Wong said Malaysia's palm oil production was expected to increase 9.4 percent to 1.04 million tonnes in September from 951,185 tonnes in August.

He forecast end-September stocks to reach a record 1.31 million tonnes against 1.19 million at end-August. Exports in September were seen at between 775,000 and 780,000 tonnes against 699,021 tonnes in August.

The benchmark third-month December futures contract ended down 10 ringgit at 910 ringgit ($239.47) a ton after trading as high as 924 ringgit.

Physical Sept (south) crude palm oil was offered at 870 ringgit a ton against bids of 865, and trade was reported at 875 to 865.

Oct (south) was offered at 880 ringgit against bids of 875, with trade done at 885 to 880.

Among refined products, Oct RBD palm oil was offered at $250 a ton FOB, Nov at $255 and Dec at $260.

There were offers for Oct RBD palm olein at $270, Nov at $275 and Dec at $280.

Oct RBD palm stearin was offered at $190 and Oct palm fatty acid distillate at $152.50.