CPO Futures Up on Positive Sentiment

KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives rebounded from Monday to close higher yesterday, taking the cue from the firmer soyaoil prices on the Chicago Board of Trade, a dealer said.

Phillip Futures Sdn Bhd Derivative Product Specialist David Ng said positive sentiment following better export performance also contributed to the rise. 

Meanwhile, spot month November 2013 rose RM38 to RM2,400 a tonne, December 2013 gained RM42 to RM2,404, and January 2014 increased RM41 to RM2,409.

A new contract month February 2014 was introduced at RM2,414 per tonne. 

Volume improved to 39,694 lots from 27,922 lots on Monday, while open interest edged up to 190,519 contracts against 179,493 previously.

Source : Business Times 

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