CPO Futures Up on Bargain-buying

KUALA LUMPUR: Crude palm oil futures rebounded to close higher on bargain-buying at a lower level.

Phillip Futures product specialist David Ng said the gain on soyabean oil prices on the Chicago Board of Trade and good export demand were also supporting the prices.

However, he said the stronger ringgit against the US dollar limited the upside.

June 2014 rose RM8 to RM2,550 a tonne, July 2014 gained RM13 to RM2,531, while August 2014 and September 2014 added RM17 each to RM2,522 and RM2,518 a tonne, respectively.

Turnover fell to 28,562 lots from 36,314 lots while, open interest was lower at 206,005 contracts from 214,035 previously.

On the physical market, June South was up by RM10 to RM2,570 a tonne. Bernama

Source : New Straits Times 

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