MARKET DEVELOPMENT
Palm oil steadies
Palm oil steadies
07/09/2017 (thenews.com) - KUALA LUMPUR: Malaysian palm oil futures traded largely unchanged in the first half on Wednesday, after posting its best session in six weeks in the previous session, as traders awaited fresh cues.
The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange lost 0.04 percent to 2,766 ringgit ($651.74) a tonne at the midday break, reversing the uptick achieved in the previous session.
Traded volumes stood at 16,665 lots of 25 tonnes. Palm snapped four straight sessions of losses and rose 2.25 percent on Tuesday, registering its biggest gain since July 25. The Malaysian bourse was closed from Thursday to Monday for public holidays. —Reuters