KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives rebounded yesterday, propped up by a stronger soyabean market.
Phillip Futures Sdn Bhd derivative product specialist David Ng said the CPO recovered from Wednesday’s almost a year low in closing on the back of strong gains on the Chicago soyabean market.
At the close, spot month August 2014 increased RM14 to RM2,356 a tonne, October 2014 appreciated RM26 to RM2,281 a tonne and November 2014 rose RM24 to RM2,279 a tonne. September 2014 depreciated RM75 to RM2,308 a tonne.
Volume drop to 23,752 lots from 48,874 lots on Wednesday, while open interest fell to 242,960 contracts from 266,138 contracts. – Bernama
Source: Business Times