CPO Futures Mostly Firmer, Spurred by Soyoil

CRUDE palm oil (CPO) futures prices on Bursa Malaysia Derivatives ended mostly higher yesterday amid positive sentiment spurred by a rally in the US soyaoil market due to shortage of supply, dealers said. “The market ended up in bullish trend due to soyaoil gains. The benchmark three-month contract, October 2010 hit a 15-month high at RM2,718 per tonne,” one of the dealers said. At close, the contract month for August 2010 was down RM14 to settle at RM2,795 per tonne while September 2010 and November 2010 contracts increased RM50 each to RM2,780 and RM2,690 per tonne, respectively. October 2010 advanced RM45 to RM2,718 per tonne.

On the physical market, August South gained RM35 to close at RM2,820 per tonne. – Bernama

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