Palm Futures Firmer on Sideways Trading

KUALA LUMPUR: The crude palm oil futures contract on Bursa Malaysia Derivatives traded sideways and closed on a firm note yesterday. The weakness in soyaoil prices on the Chicago Board of Trade, anticipation of higher inventories in April coupled with a stronger ringgit pressured prices downwards but firm underlying fundamentals supported prices.

At close, May 2014 and June 2014 added RM10 each to RM2,642 a tonne and RM2,601 a tonne, respectively, July 2014 increased RM11 to RM2,579 a tonne and August 2014 improved RM12 to RM2,572 a tonne.

Turnover fell to 29,436 lots from 30,988 lots while open interest narrowed to 210,346 contracts versus 214,763 on Tuesday. Bernama

Source : New Straits Times 

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