Palm Futures Ease on Profit Taking

CRUDE

palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended lower

yesterday on profit-taking activities after recent gains, dealers said.

The commodity price had touched its highest level on Monday since May 2009.

According

to the dealers, the downtrend was also in line with the weaker rival

soyabean futures market as the November soybean price dropped 0.4 per

cent to US$10.80 per bushel on the Chicago Board of Trade.

At the close of the CPO futures trading yesterday, the October 2010

contract fell RM49 to RM2,710 per tonne, November 2010 decreased RM37 to

RM2,700 per tonne, December 2010 went down RM39 to RM2,698 per tonne

and January 2011 declined RM41 to RM2,707 per tonne.

Total volume

increased to 19,686 lots from 14,672 lots the previous day while open

interest rose to 63,528 contracts from 63,350 contracts earlier.

On the physical market, October South went down RM30 to RM2,730 per tonne.

Source : Business Times

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