Palm sheds early gains tracking overnight losses in rival soyoil

Kenanga Research, in its latest report, said planters with high plantations exposure in Peninsular Malaysia such as Sime Darby Bhd, IOI Corp Bhd, Kuala Lumpur Kepong Bhd (KLK), Felda Global Ventures Holdings Bhd (FGV) and United Malacca Bhd could see higher-than-average production growth trends

KUALA LUMPUR: Malaysian palm oil futures erased earlier gains to end the trading day slightly lower on Wednesday evening, tracking overnight losses in soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 0.1 percent to 2,747 ringgit ($651) a tonne at the close of trade, its third drop in four  sessions.