Palm Futures End At Near 7-Month High

Crude palm oil futures contracts on the Bursa Malaysia Derivatives closed at a near seven-month high on strong demand from China and concerns that a dry weather in the US could affect soya bean production, dealers said.

August 2010 rose RM78 to RM2,822 a tonne, September was RM65 higher at RM2,762, October gained RM70 to RM2,730 and November climbed RM69 to RM2,721 .

Turnover increased to 24,644 lots from 15,560 lots last Friday while open interest increased to 66,661 contracts from 66,617 last Friday. August delivery price traded at RM2,840 from RM2,680 last Friday.

Source: Business Times

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