Malaysian crude palm oil futures ended flat on Monday, held back by weaker-than-expected export data for the first 25 days of March, traders said. "Stocks are high and buyers are a bit sidelined," one trader said.
The benchmark third-month June contract on Bursa Malaysia Derivatives dipped in thin, morning trade to a low of 1,447 ringgit ($391.80) a tonne, down 5 ringgit, but recovered in late trade to end the day unchanged at 1,452 ringgit.
The May contract, the next most traded month, ended down 5 ringgit at 1,433 ringgit. Both contracts were thinly traded.
Societe Generale de Surveillance, whose figures are closely watched by the market, estimated exports of Malaysian oil-palm products at 853,838 tonnes for March 1-25, up 1.2 percent from the first 25 days of February.
That was weaker than market expectations, one trader said.
Soya oil on the Chicago Board of Trade was down at Friday's close, with the key May contract falling 0.29 cents at 22.74 cents per lb. But in Monday's electronic trading during Asian hours, the contract rose 0.17 to 22.91 cents.
Soya oil and palm oil compete for exports and their prices often move in step.
In physical palm oil trade, March crude palm oil was offered at 1,415 ringgit a tonne, both for southern and central regions, against bids of 1,410. Trades were heard at 1,410.
April CPO was offered at 1,425 ringgit in both regions, against bids of 1,420 in the south and 1,415 in the central region. Trades were done at 1,415-1,420 in central region.