CPO Futures Advance

CRUDE palm oil futures prices on Bursa Malaysia Derivatives continued to end firmer on the back of a steady crude oil and soybean oil markets, a dealer said.

He said as high production season slows down, investors are also expecting lower palm oil stocks.

At yesterday’s close, the CPO futures for August 2009 and September 2009 both increased RM60 to RM2,500 and RM2,480, October 2009 rose RM65 to RM2,465 and November 2009 gained RM57 to RM2,452.

Volume surged to 23,676 lots from 16,270 lots posted on Monday and open interest went up to 79,671 contracts from 78,176 contracts previously.

On the physical market, August South stood at RM2,500 a tonne, up from the previous day’s RM2,470 per tonne

Source ; Business Times

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