Palm oil fluctuated before production data amid a decrease in exports from Malaysia, the world’s second-largest producer.
The February contract gained and lost at least 0.4 percent and traded at 2,651 ringgit ($829) a metric ton on the Bursa Malaysia Derivatives at 11:59 a.m. local time. Futures rose 8.8 percent in 2013 for the first annual gain in three years.
Shipments from Malaysia fell 20 percent to 378,579 tons in the first 10 days of December from the same period a month earlier, cargo surveyor Intertek said today. Palm stockpiles in Malaysia probably jumped 6.2 percent to 1.96 million tons, the highest level since March, as exports fell 5.4 percent to 1.57 million tons in November from a month earlier, according to a Bloomberg survey. Output may have dropped 2.6 percent to 1.92 million tons, the survey showed. The Malaysian Palm Oil Board is scheduled to release its data at 12:30 p.m.
Soybean oil for January delivery climbed 0.4 percent to 40.38 cents a pound on the Chicago Board of Trade. Soybeans were little changed at $13.4325 a bushel.
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