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Palm flat as stockpile concerns cap gains
KUALA LUMPUR: Malaysian palm oil futures were little changed on Tuesday, as gains from stronger crude oil prices were tempered by concerns of higher September stockpiles. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange gained 2 ringgit, or 0.04%, to 4,580 ringgit ($1,121.45) a metric ton by the midday break. The market was supported by firmer crude oil prices and follow-through buying after Monday’s rebound, although expectations of high September inventories continued to cap gains, said David Ng, a proprietary trader at Kuala Lumpur-based tradi...
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