CPO Futures Near 3-Week Low

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives were weak

yesterday, hitting an almost three-week low on lack of demand amid a

stronger ringgit, dealers said. The drop in the CPO futures was in line

with the fall in the soyabean futures market.

May 2010 and

June 2010 declined RM35 each to settle at RM2,511 a tonne and RM2,486

respectively.

Similarly, July 2010 and August 2010 declined RM35

each to RM2,472 and RM2,464 respectively.

The market breadth, however, was positive with overall volume doubling

to 12,443 lots from Wednesday’s closing of 6,747 lots. Open interest

declined to 65,813 contracts from 67,208 contracts.

On the

physical market, May South fell to RM2,520 from RM2,560 previously.

Source : Business Times

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