Palm Futures Lower on Reverses Earlier Gains

KUALA LUMPUR: Crude palm oil (CPO) futures prices reversed earlier gains to close lower yesterday dampened by the persistent weakness in soyabean market in Chicago, a dealer said.

At the close, spot month August 2014 decreased RM21 to RM2,335 a tonne, September 2014 and October 2014 fell RM16 each to RM2,292 and RM2,265 a tonne respectively and November 2014 declined RM15 to RM2,264 a tonne.

Volume rose to 24,488 lots from 23,752 lots on Thursday, while open interest fell to 241,027 contracts from 242,960 previously.

On the physical market, August South was flat at Thursday’s close of RM2,370 a tonne. -Bernama

Source: Business Times

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