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KUALA LUMPUR, Sept 19: Malaysian palm oil futures on Wednesday staged a modest rebound from the previous session's 1-month low, boosted by expectations of strong export data, but gains were capped by an anticipated drop in demand due to a better-than-expected US soy harvest.
By the midday break, the benchmark December contract on the Bursa Malaysia Derivatives Exchange rose 0.6 per cent to 2,877 ringgit ($940). Total traded volume stood at 17,187 lots of 25 tons each, higher than the usual 12,500 tons, as traders booked profits.
Technicals showed Malaysian palm oil will retest a support at 2,832 ringgit per ton.—Reuters
