CPO Futures End Easier as Traders Book Profits

KUALA LUMPUR: Crude palm oil futures (CPO) contracts closed easier yesterday on profit-taking despite bullish external outlook, dealers said.

A dealer said the traders booked profits after a bullish performance yesterday hitting the one-year high.

However, losses were capped by China’s strong food demand to replenish its stock level and the damage to soyabean crop in South America.

April 2012 eased RM17 to RM3,495, May 2012 dropped RM3 to RM3,482 per tonne, June 2012 was RM8 lower at RM3,473 per tonne and July 2012 slipped RM10 to RM3,460 per tonne.

Volume jumped to 17,557 lots from 17,471 lots while open interest rose to 86,963 contracts from 86,148 contracts previously.

Source: Business Times

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