CPO Futures Continue Downward Drift

CRUDE palm oil futures on Bursa Malaysia Derivatives closed lower

yesterday, tracking the downtrend in soyaoil prices on the Chicago Board

of Trade and the Dalian Commodity Exchange, dealers said.

A dealer said most players are waiting for the release of the exports data due today before taking any position in the market.

June 2011 fell by RM42 to RM3,295 a tonne, July 2011 declined RM33 to

RM3,307, August 2011 dropped RM29 to RM3,287 and September 2011 eased

RM33 to RM3,280.

Turnover increased to 25,096 lots from 19,756 lots on Wednesday

while open interest rose to 110,130 contracts from 108,218 contracts

previously.

On the physical market, June South was unchanged at RM3,360 a tonne.

Source : Business Times

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