Palm Futures Close Slightly Lower

KUALA LUMPUR: Crude palm oil futures (CPO) prices on Bursa Malaysia Derivatives closed slightly lower yesterday on profit-taking, after three trading days of gains, dealers said.

A dealer said it was also due to the Malaysian Palm Oil Board’s bearish export data released recently.

Another dealer said the fall in contract prices could also be due to weak Chinese exports and a slightly bearish US soyabean report.
 
March 2012 fell RM19 to RM3,316 a tonne, April 2012 lost RM37 to RM3,320, May 2012 dropped RM35 to RM3,317 and June 2012 slipped RM24 to RM3,310.

Volume climbed to 27,074 lots from 26,245 lots last Friday while open interest jumped to 127,986 contracts from 124,767.

On the physical market, March South gained RM80 to RM3,320 a tonne.

Source: Business Times

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