CPO Futures Down on Technical Selling

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives

continued to ease on technical selling amid the fallout from the

downgrade of the US credit rating, dealers said.

At the close

yesterday, the August contract slipped RM10 to RM3,110, September

decreased RM66 to RM2,970, October declined RM74 to RM2,920 while

November dropped RM85 to RM2,895.

Turnover decreased to 35,313 lots from 38,986 lots on Monday.

Open interest rose to 129,215 contracts from 130,417 contracts previously.

On the physical market however, August South rose by RM30 to RM3,150 per tonne.

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