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Markets

Palm drops on weak Chicago soyoil, sluggish exports

  • The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange lost 12 ringgit, or 0.29%, to 4,102 ringgit
Published Updated
Photo: Reuters
Photo: Reuters
By

JAKARTA: Malaysian palm oil futures fell on Monday, weighed by weakness in Chicago soyoil and weak export data.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange lost 12 ringgit, or 0.29%, to 4,102 ringgit ($993.22) a metric ton by 0236 GMT.

The contract gained 1.1% last week, but declined 2.78% in November, its third consecutive monthly drop.

Global futures markets were disrupted for several hours on Friday after CME Group, the world’s largest exchange operator, suffered one of its longest outages in years, halting trading across stocks, bonds, commodities and currencies.

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