Palm oil

Trade and local buying lifted Malaysian palm oil futures off their lows by the close on Tuesday after overnight losses in Chicago soya oil futures and technical selling had weighed on prices. Falls at the Chicago Board of Trade (CBOT) project A screen trading session on Tuesday had also kept a lid on prices earlier.

The third position July futures contract ended down eight ringgit at1,227 ringgit ($322.89) a tonne after trading as low as 1,217.

Physical crude palm oil prices also rebounded from their lows but activity remained light due to a lack of demand for refined products.

April (south) crude palm oil was last offered at 1,260 ringgit a tonne against bids of 1,225. It traded between 1,250 and 1,260 ringgit. Among refined products, April and May/June RBD palm oil were offered at $ 350 a tonne freight on board. April RBD palm olein saw offers at $370 with May/June also offered at $370.