US benchmark soybean oil futures ended the day’s trading with a nominal gain on Monday June 10, following a seesaw day of trade to open the week.

On the Chicago Mercantile Exchange (CME), the nearby July soybean oil futures contract closed at $0.4366 per lb on Monday, up by just three basis points from a settlement of $0.4363 on Friday.

In Malaysia, the most actively traded August palm oil futures settled at 3,919 ringgit ($834.68) per tonne on Monday, down by 56 ringgit per tonne, 1.4%, from 3,975 ringgit per tonne on Friday.

Figures released by the Malaysian Palm Oil Board (MPOB) on Monday showed that the country’s palm oil stocks were 1.75 million tonnes at the end of May, up by 0.5% month on month.

The increase was attributed to robust production. MPOB data also showed that crude palm oil output in May was 1.705 million tonnes, up by 13.5% month on month.

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