Malaysia's palm oil off high

Malaysia's palm oil off high

KUALA LUMPUR (Reuters): Malaysian palm oil futures
shed earlier gains and stayed in a negative territory at the
close on Thursday despite late short covering ahead of the long
holiday this week, traders said.

The market will be closed on Friday for the independence day
holiday. Trading resumes on Monday, when cargo surveyors ITS and
SGS are scheduled to release export figures for all of August.

The benchmark November futures contract ended down two ringgit
at 1,069 ringgit ($281.32) a ton after trading as high as 1,085.
Overall volume stood at 1,326 lots.

On the physical side, September crude palm oil for south and
central regions was offered at 1,075 ringgit a ton against bids
at 1,070. There were trades at 1,070 to 1,080 for both regions.

Among refined products, September RBD palm oil was offered at
$295.00 a ton and October/November/December at $300.00.

Offers for September RBD olein were at $310.00 and
October/November/December at $315.00. September RBD palm stearin
was offered at $250.00 a ton and September palm fatty acid
distillate was offered at $202.50.