China soybean oil hits 4-month low, tracks Malaysia

SINGAPORE: China's soybean oil futures fell to a 4-month low on Monday after trade resumed following a week-long holiday and in line with steep losses on the Malaysian palm oil market last week.

By 0258 GMT, the most active January 2013 soybean oil contract on the Dalian Commodity Exchange was trading 2.1 percent lower at 9,080 yuan ($1,400) per tonne, after going as low as 9,058 yuan, a level last seen on June 5.

Malaysia palm oil tumbled to a near 3-year low of 2,230 ringgit per tonne last Wednesday on rising stocks and lacklustre demand, before paring losses later in the week.