AIRLINK 62.48 Increased By ▲ 2.05 (3.39%)
BOP 5.36 Increased By ▲ 0.01 (0.19%)
CNERGY 4.58 Decreased By ▼ -0.02 (-0.43%)
DFML 15.50 Increased By ▲ 0.66 (4.45%)
DGKC 66.40 Increased By ▲ 1.60 (2.47%)
FCCL 17.59 Increased By ▲ 0.73 (4.33%)
FFBL 27.70 Increased By ▲ 2.95 (11.92%)
FFL 9.27 Increased By ▲ 0.21 (2.32%)
GGL 10.06 Increased By ▲ 0.10 (1%)
HBL 105.70 Increased By ▲ 1.49 (1.43%)
HUBC 122.30 Increased By ▲ 4.78 (4.07%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.50 Decreased By ▼ -0.05 (-1.1%)
KOSM 4.48 Decreased By ▼ -0.09 (-1.97%)
MLCF 36.20 Increased By ▲ 0.79 (2.23%)
OGDC 122.92 Increased By ▲ 0.53 (0.43%)
PAEL 23.00 Increased By ▲ 1.09 (4.97%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.80 Decreased By ▼ -0.14 (-2.36%)
PPL 107.50 Increased By ▲ 0.13 (0.12%)
PRL 27.25 Increased By ▲ 0.74 (2.79%)
PTC 18.07 Increased By ▲ 1.97 (12.24%)
SEARL 53.00 Decreased By ▼ -0.63 (-1.17%)
SNGP 63.21 Increased By ▲ 2.01 (3.28%)
SSGC 10.80 Increased By ▲ 0.05 (0.47%)
TELE 9.20 Increased By ▲ 0.71 (8.36%)
TPLP 11.44 Increased By ▲ 0.86 (8.13%)
TRG 70.86 Increased By ▲ 0.95 (1.36%)
UNITY 23.62 Increased By ▲ 0.11 (0.47%)
WTL 1.28 No Change ▼ 0.00 (0%)
BR100 6,944 Increased By 65.8 (0.96%)
BR30 22,827 Increased By 258.6 (1.15%)
KSE100 67,142 Increased By 594.3 (0.89%)
KSE30 22,090 Increased By 175.1 (0.8%)
Markets

Palm falls as traders await fresh leads

Malaysian palm oil futures took a turn to close lower on Thursday, logging another session of declines. The be
Published October 3, 2019
  • Malaysian palm oil futures took a turn to close lower on Thursday, logging another session of declines.
  • The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was down 0.2pc at 2,137 ringgit per tonne at the close.

KUALA LUMPUR: Malaysian palm oil futures took a turn to close lower on Thursday, logging another session of declines, as traders sold off in the last hour of trading to wait for clearer market leads.

The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was down 0.2pc at 2,137 ringgit per tonne at the close.

Palm was trading higher for most of the session tracking the Chicago Board of Trade (CBOT) soyoil, but traders noted there was a lack of positive market catalysts to bolster the upside.

The futures contract fell more than 1pc in the previous session, its largest drop in over a week.

"The market was very choppy. It was up earlier tracking US soyoil, but buying was overdone thus the selloff later in the day," said a Kuala Lumpur-based trader.

US soyoil futures on the CBOT were last up 0.03pc, after rising to a two-and-a-half-week high on Wednesday.

"Market is not expecting robust exports for October, and there could be a slow build-up of stockpiles, so many traders are not keen on long positions," another trader said.

The Dalian commodity exchange is closed this week for holidays.

Comments

Comments are closed.