CPO Futures Easier on Technical Selling

Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives were lower at close yesterday due to technical selling, dealers said.

They said some market players were a little bit concerned over possible slower demand in the near future as well as stock build-up as production improved.

“Overall, the market was affected by the lack of fresh leads but sentiment remained positive,” a dealer said. At the close, September 2010 fell RM47 to RM2,670 per tonne, October 2010 decreased RM58 to RM2,570 per tonne, November 2010 went down RM50 to RM2,510 per tonne and December 2010 was RM59 lower at RM2,481 per tonne. Source: Business Times

 

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