Malaysia Palmoil Down, Awaits Crop Data
With no fresh factors to trade on at the moment, the market is focusing on Ivan Wongs report to provide a fresh lead, said one trader.
He said players also took the opportunity to consolidate positions after last weeks rally.
Wong is expected to release his October crop estimates today.
Another trader said players were still unsure about the palm oil stock situation in the country, and Wongs report could shed some light on this.
At midday, third position January futures contract was down five ringgit at 1,166 ringgit ($461.78) a tonne after trading in a tight eight ringgit-range.
Total volume on the futures market was 234 lots at midday.
The physicals sector also remained generally quiet, with light trading noted in some products.
November (south) crude palm oil was offered at 1,180 ringgit ($467.33) a tonne, unchanged from Tuesdays close, with bids at 1,175.
November (central) was offered at 1,170 with bids at 1,165, and Nov (north) saw offers at 1,170 and bids at 1,160.
December (south) was offered at 1,190 ringgit with bids at 1,180. Dec (central) saw offers at 1,180 and bids at 1,170.
Among refined products, Nov RBD palm olein was offered at $537.50 a tonne f.o.b. Malaysia, Dec at $532.50 and Jan/Feb/Mar at $535. Jan/Feb/Mar was traded at $532.50.
November/December RBD palm oil was offered at $500 and Jan/Feb/Mar at $502.50. November was done at $500.
November RBD palm stearin saw sellers at $372.50 and December at $375.
November/December palm fatty acid distillate was offered at $315.