KUALA LUMPUR: The crude palm oil futures contract on Bursa Malaysia Derivatives closed mostly lower in a quiet market yesterday, taking the cue from the soft performance globally, dealers said.
A dealer said most of the players were awaiting for the US Department of Agriculture’s report and Malaysian Palm Oil Board’s (MPOB) data to be released on Friday.
“Investor optimism grew on talk of more stimulus measures by ECB, but caution remained as traders await the stocks data by MPOB.”
August and October were flat at RM2,897 a tonne and RM2,918 a tonne respectively, while September declined RM9 to RM2,898 and November eased RM1 to RM2,934.
Volume rose to 21,893 lots from 13,937 lots last Friday while open interest increased to 136,294 contracts from 126,332 last week. On the physical market, August South stood unchanged at RM2,910 a tonne.
Source : Business Times