Palm futures gains on back of soyaoil gains

CRUDE palm oil futures on Bursa Malaysia Derivatives closed higher yesterday on the back of upward performance of soyaoil on the Chicago Board of Trade, a dealer said.

August 2011 advanced RM35 to close at RM3,175 a tonne and September 2011 added RM26 to RM3,147. October 2011 went up RM23 to RM3,136 and November 2011 rose RM22 to RM3,131.

Turnover fell to 20,941 lots from 20,290 lots on Tuesday while open interest declined to 131,131 contracts from 131,887 previously.

On the physical market, August South was up RM20 to RM3,180. – Bernama

Source: Business Times

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