Malaysian palm oil futures took a turn to close lower on Thursday, logging another session of declines, as traders sold off in the last hour of trading to wait for clearer market leads. The benchmark palm oil contract for the December delivery on the Bursa Malaysia Derivatives Exchange was down 0.2% at 2,137 ringgit per tonne at the close. Palm was trading higher for most of the session tracking the Chicago Board of Trade (CBOT) soyaoil, but traders noted there was a lack of positive market catalysts to bolster the upside.

The futures contract fell more than 1% in the previous session, its largest drop in over a week. "The market was very choppy. It was up earlier tracking US soyaoil, but buying was overdone thus the selloff later in the day," said a Kuala Lumpur-based trader.

Copyright Reuters, 2019