KUALA LUMPUR (Sept 27): Palm oil for Dec. delivery drops as much as 1.1% to RM2,718/ton on Bursa Malaysia Derivatives before trading at RM2,730 by 11:11am in Kuala Lumpur.
* Futures -12% YTD
* Market went lower, tracking losses in Tuesday’s soybean oil trade due the impact of the EPA notice, says David Ng, derivatives specialist at Phillip Futures in Kuala Lumpur.
* NOTE: EPA Opens Door to Cutting Biodiesel, Renewable Fuel Quotas
* Soybean oil for Dec. delivery on Chicago Board of Trade +0.1% to 33.48c/lb, -1.7% Tuesday
** Nov. soybeans -0.1% to $9.63/bu, -0.8% Tuesday
* Soybean oil’s premium over palm oil ~$92/ton vs avg ~$112 over past year: data compiled by Bloomberg
* Palm oil’s premium over gasoil at ~$100/ton vs avg ~$167 over past year: data compiled by Bloomberg
* Jan. refined palm oil on Dalian Commodity Exchange +0.4% to 5,626 yuan/ton; Jan. soybean oil -0.5% to 6,152 yuan/ton