CPO Futures Ease on Mild Selling

CRUDE palm oil futures on Bursa Malaysia Derivatives ended lower on

mild selling despite strong export data yesterday.

“The healthy

numbers could not support the market as it came within market

expectations,” a dealer said, adding that the stronger ringgit dampened

sentiment as well.

He said the stronger local currency against

the US dollar made the commodity unattractive for both hedge funds and

importers.


June 2010 decreased RM20 to settle at RM2,499 a tonne while July 2010

fell to RM25to RM2,475. August 2010 dipped RM21 to RM2,436 and

September 2010 depreciated RM28 to RM2,401.

Volume went down to

9,540 lots from the 9,667 lots recorded last Thursday while open

interest was 70,020 contracts, lower than the 70,974 previously.

On

the physical market, June South was lower at RM2,550 compared to last

Thursday’s RM2,560 a tonne.

Source : Business Times

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