950804

Malaysian

palm oil

ends down

KUALA LUMPUR: Palmoil prices closed lower in range trading as lack of fresh news kept players at the sidelines, traders said.

"The market continues to be trading in narrow limits," a trader at a commission house said. "There wasn't much interest as people do not know how to trade in this market," he said.

Players also liquidated their positions ahead of the weekend. The market is awaiting performance of the Chicago soyoil futures market tonight.

Players also remained concerned about the weather pattern in the U.S. Midwest, traders said.

Continued talk that production for July may rise by 10 percent from June prompted players to sell on strength, they said.

Third month October futures closed six ringgit down at 1,390 ringgit ($564) a tonne after trading within a six-ringgit range. Turnover on the futures market was 1,652 lots against 585 on Thursday.

Physicals Aug crude palmoil (south) was offered at 1,470 ringgit a tonne.

In refined products, Aug RBD palmoil was offered at $632.50 a tonne FOB Malaysia, Sept at $630 and Oct/Nov/Dec at $625. Oct/Nov/Dec was traded at $625 and $622.50.

Aug RBD palm olein was offered at $657.50, Sept at $652.50 and Oct/Nov/Dec at $642.50. Sept was traded at $650 and Oct/Nov/Dec at $645.

Aug RBD palm stearin saw sellers at $515 and Sept at $510. Sept/Oct palm fatty acid distillate were offered at $427.50.

(Prices in Ringgit/tonne local delivery/Crude, Bulk)

Aug 1465/1470 ba 1470 (south)

Sept 1435/1450 ba

(Prices in US dlrs/Tonne local for Malaysian ports,Bulk)

RBD PALM OIL

Aug 632.50 seller

Sept 630 seller

Oct/Nov/Dec 625 seller traded 625/622.50

RBD PALM OLEIN

Aug 657.50 seller

Sept 652.50 seller traded 650

Oct/Nov/Dec 642.50 seller traded 645

RBD PALM STEARIN

Aug 515 seller

Sept 510 seller

Rest unquoted-Reuter