Palm Futures Rise on Cautious Sentiment

KUALA LUMPUR: The crude palm oil futures on Bursa Malaysia Derivatives closed slightly higher yesterday, with investors remaining cautious over the global economic climate, a dealer said.

He said the market rebounded with some short covering and was above the RM3,000 psychological support.

June 2012 added RM9 to RM3,111 a tonne, July 2012 gained RM12 to RM3,105 a tonne, August 2012 rose RM8 to RM3,095 and September 2012 added RM15 to RM3,090.
 
Volume fell to 32,671 lots after recording a historical high of 63,019 lots previously.

Open interest rose to 120,462 contracts from 117,654 contracts transacted yesterday.

On the physical market, May South was up RM10 to RM3,160 a tonne.

Source : Business Times

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