CPO Futures Stage Technical Rebound

CRUDE palm oil (CPO) futures on Bursa Malaysia Derivatives staged a

technical rebound yesterday.

The market which had fallen to

almost a three-week low yesterday, recovered on concern over supply

shortage, dealers said.

“Sentiment was generally positive amid

strong exports and low stock level,” said a dealer.

May 2010 and June 2010 contracts edged up RM3 each to settle at RM2,546

a tonne and RM2,521 respectively. July 2010 rose RM2 to RM2,507 and

August 2010 added RM6 to RM2,499.

The overall trading volume was

thin with 6,747 lots compared with 10,402 lots yesterday. Open interest

climbed to 67,208 contracts from 66,506 previously.

On the

physical market, May South rose to RM2,560 a tonne from RM2,540 on

Tuesday.

Source : Business Times

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