KUALA LUMPUR: Malaysian palm oil futures reversed gains on late on Wednesday in its first decline after three consecutive sessions of gains, weighed down by a weaker export outlook and profit taking. Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange fell 0.7 percent to 2,675 ringgit ($647) a tonne at the end of the trading day. "Weaker export data lead the drop in prices," said a futures trader from Kuala Lumpur, adding that exports were expected to remain slow. Another trader said that the decline in soybean oil on the Chicago Board of Trade was another factor that prompted traders to take profit. In related oils, the Chicago Board of Trade's soybean oil December contract fell 0.9 percent, while the January soybean oil contract on the Dalian Commodity Exchange rose 0.3 percent.- Reuters

Source: The Star September 21, 2016 12:11 UTC