CPO Futures Dip on Technical Correction

KUALA LUMPUR: The crude palm oil futures contract on Bursa Malaysia Derivatives closed mostly lower yesterday, prompted by a technical correction, dealers said.

A dealer said the market was on an extended profit-taking, which could make the market trade sideways.

Spot month September 2012 fell RM59 to RM2,915 a tonne, October 2012 was RM32 lower to RM2,968 a tonne, November 2012 dwindled RM29 to RM3,000 a tonne and December 2012 slid RM25 to RM3,016 a tonne.
Volume rose to 40,158 lots from 26,978 lots on Tuesday. On the physical market, September South slipped RM50 to RM2,900 a tonne. 

Source :  Business Times

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