Palm Futures Retreat at Close

KUALA LUMPUR: The crude palm oil futures contracts ended lower yesterday prompted by the stronger ringgit against the United States dollar, dealers said.

Meanwhile, Phillip Futures derivatives product specialist David Ng said that overnight fall in Chicago Board of Trade soya oil prices was also seen weighing on the sentiment.

At close, June 2014 slipped RM34 to RM2,426 a tonne, July 2014 declined RM38 to RM2,426, August 2014 lost RM38 to RM2,423 while September 2014 fell RM37 to RM2,422 a tonne.

Turnover rose to 35,465 lots from 32,914 lots, while open interest was up at 215,052 contracts from 212,244 previously.

On the physical market, June South fell RM50 to RM2,460 a tonne. – Bernama

Source: Business Times

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